Midland States Bancorp (NASDAQ:MSBI) Given New $26.00 Price Target at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its price target reduced by Keefe, Bruyette & Woods from $28.00 to $26.00 in a report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler cut their price objective on shares of Midland States Bancorp from $26.00 to $24.50 and set a neutral rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $25.63.

Midland States Bancorp Trading Down 2.7 %

MSBI opened at $21.90 on Tuesday. The stock has a market capitalization of $478.52 million, a P/E ratio of 7.45 and a beta of 0.77. Midland States Bancorp has a 12 month low of $17.98 and a 12 month high of $28.47. The firm’s fifty day simple moving average is $23.99 and its 200 day simple moving average is $24.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.18). The company had revenue of $122.86 million during the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, research analysts anticipate that Midland States Bancorp will post 2.94 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were paid a $0.31 dividend. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend was Thursday, February 15th. Midland States Bancorp’s payout ratio is presently 42.18%.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in Midland States Bancorp by 176.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after buying an additional 909 shares during the last quarter. AJOVista LLC acquired a new stake in Midland States Bancorp in the 4th quarter valued at $67,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Midland States Bancorp by 110.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock valued at $127,000 after buying an additional 3,244 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Midland States Bancorp by 2,688.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 7,446 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Midland States Bancorp during the 3rd quarter worth about $244,000. 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.