Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $24.50 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price objective cut by Piper Sandler from $26.00 to $24.50 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Midland States Bancorp Trading Down 0.3 %

Shares of MSBI opened at $23.75 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The firm’s 50-day moving average is $23.94 and its two-hundred day moving average is $24.44. Midland States Bancorp has a twelve month low of $17.98 and a twelve month high of $28.47. The firm has a market capitalization of $518.94 million, a P/E ratio of 8.08 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The company had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, research analysts predict that Midland States Bancorp will post 2.79 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were given a dividend of $0.31 per share. 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 5.22%. The ex-dividend date was Thursday, February 15th. Midland States Bancorp’s dividend payout ratio is presently 42.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSBI. Quadrant Capital Group LLC lifted its holdings in shares of Midland States Bancorp by 176.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 909 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $67,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Midland States Bancorp by 110.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 3,244 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Midland States Bancorp by 2,688.1% in the fourth quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $318,000. 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.