Piper Sandler Lowers Midland States Bancorp (NASDAQ:MSBI) Price Target to $23.00

Midland States Bancorp (NASDAQ:MSBI) had its price target lowered by Piper Sandler from $28.50 to $23.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 17.95% from the company’s previous close.

MSBI has been the subject of a number of other reports. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday.

Midland States Bancorp Stock Down 2.8 %

Shares of NASDAQ MSBI opened at $19.50 on Tuesday. The company has a market capitalization of $417.30 million, a P/E ratio of 8.53 and a beta of 0.76. Midland States Bancorp has a 1 year low of $19.51 and a 1 year high of $28.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day simple moving average of $25.12 and a 200-day simple moving average of $23.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. On average, equities research analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently modified their holdings of MSBI. Point72 DIFC Ltd acquired a new position in Midland States Bancorp during the 3rd quarter worth $31,000. R Squared Ltd acquired a new position in shares of Midland States Bancorp during the fourth quarter worth about $39,000. Point72 Asset Management L.P. purchased a new stake in shares of Midland States Bancorp during the third quarter worth approximately $45,000. Quantbot Technologies LP raised its holdings in Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 507 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,229 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.