Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $27.00 at Stephens

Midland States Bancorp (NASDAQ:MSBI) had its price objective lowered by Stephens from $29.00 to $27.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

MSBI has been the subject of a number of other reports. Piper Sandler cut their target price on Midland States Bancorp from $26.00 to $24.50 and set a neutral rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $28.00 to $26.00 and set a market perform rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $25.63.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $21.90 on Tuesday. The company has a market cap of $478.52 million, a price-to-earnings ratio of 7.45 and a beta of 0.77. The stock has a 50 day simple moving average of $23.99 and a 200-day simple moving average of $24.43. Midland States Bancorp has a 12-month low of $17.98 and a 12-month high of $28.47. 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 issued its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The business had revenue of $122.86 million for the quarter, compared to analysts’ expectations of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same period last year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Midland States Bancorp will post 2.94 EPS for the current year.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were issued a $0.31 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.66%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Midland States Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock valued at $37,811,000 after buying an additional 37,813 shares during the last quarter. Vanguard Group Inc. grew its holdings in Midland States Bancorp by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after buying an additional 7,132 shares during the last quarter. AQR Capital Management LLC grew its holdings in Midland States Bancorp by 27.5% during the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock valued at $5,147,000 after buying an additional 54,090 shares during the last quarter. American Century Companies Inc. grew its holdings in Midland States Bancorp by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after buying an additional 24,320 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Midland States Bancorp by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after buying an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.