Midland States Bancorp (NASDAQ:MSBI) Lowered to Hold at StockNews.com

Midland States Bancorp (NASDAQ:MSBIGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

MSBI has been the subject of several other research reports. Raymond James began coverage on shares of Midland States Bancorp in a research note on Thursday, September 1st. They issued a “market perform” rating for the company. Piper Sandler cut their target price on shares of Midland States Bancorp to $27.00 in a research report on Thursday, September 29th. DA Davidson lifted their target price on shares of Midland States Bancorp to $29.00 in a research report on Thursday, October 27th. Finally, Stephens cut their target price on shares of Midland States Bancorp from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th.

Midland States Bancorp Stock Down 1.5 %

Shares of NASDAQ MSBI opened at $26.44 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.87. Midland States Bancorp has a 52 week low of $23.48 and a 52 week high of $30.60. The firm has a 50-day moving average price of $26.12 and a 200 day moving average price of $25.83. The stock has a market capitalization of $585.65 million, a price-to-earnings ratio of 6.69 and a beta of 0.93.

Midland States Bancorp (NASDAQ:MSBIGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Midland States Bancorp had a net margin of 26.21% and a return on equity of 14.30%. The firm had revenue of $79.85 million during the quarter, compared to analysts’ expectations of $78.85 million. Equities research analysts anticipate that Midland States Bancorp will post 3.9 EPS for the current fiscal year.

Insider Transactions at Midland States Bancorp

In other news, President Jeffrey S. Mefford sold 1,600 shares of Midland States Bancorp stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $23.84, for a total transaction of $38,144.00. Following the completion of the sale, the president now directly owns 26,375 shares in the company, valued at $628,780. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 4,800 shares of company stock worth $123,936 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

A number of institutional investors have recently bought and sold shares of MSBI. BlackRock Inc. grew its holdings in Midland States Bancorp by 11.9% in the third quarter. BlackRock Inc. now owns 2,761,753 shares of the financial services provider’s stock valued at $65,095,000 after purchasing an additional 292,712 shares during the period. Assenagon Asset Management S.A. grew its holdings in Midland States Bancorp by 227.6% in the second quarter. Assenagon Asset Management S.A. now owns 259,845 shares of the financial services provider’s stock valued at $6,247,000 after purchasing an additional 180,525 shares during the period. JPMorgan Chase & Co. grew its holdings in Midland States Bancorp by 423.4% in the second quarter. JPMorgan Chase & Co. now owns 113,606 shares of the financial services provider’s stock valued at $2,731,000 after purchasing an additional 91,899 shares during the period. Accurate Wealth Management LLC purchased a new stake in Midland States Bancorp in the first quarter valued at approximately $2,052,000. Finally, Dimensional Fund Advisors LP grew its holdings in Midland States Bancorp by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,067,037 shares of the financial services provider’s stock valued at $30,795,000 after purchasing an additional 68,066 shares during the period. 61.87% of the stock is currently owned by hedge funds and other institutional investors.

About Midland States Bancorp

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Midland States Bancorp, Inc is a bank holding company engaged in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

Further Reading

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