Midland States Bancorp (NASDAQ:MSBI) Shares Cross Below 50 Day Moving Average of $23.76

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $23.76 and traded as low as $23.08. Midland States Bancorp shares last traded at $23.26, with a volume of 58,008 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stephens reduced their target price on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods reduced their target price on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Finally, Piper Sandler reduced 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, April 30th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.63.

Midland States Bancorp Trading Up 0.4 %

The company has a 50 day moving average of $23.76 and a 200 day moving average of $24.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market capitalization of $499.62 million, a price-to-earnings ratio of 7.91 and a beta of 0.79.

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). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.50%. The firm had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same period in the prior year, the company posted $0.88 earnings per share. On average, research analysts predict that Midland States Bancorp, Inc. will post 2.7 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 17th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, May 16th. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, SVP Douglas J. Tucker sold 3,577 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total value of $85,848.00. Following the completion of the sale, the senior vice president now directly owns 32,871 shares in the company, valued at approximately $788,904. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Midland States Bancorp

Several large investors have recently added to or reduced their stakes in MSBI. Bank of New York Mellon Corp grew its holdings in Midland States Bancorp by 1.7% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Midland States Bancorp by 110.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,244 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Midland States Bancorp by 3.3% during the 3rd quarter. New York State Common Retirement Fund now owns 47,674 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 1,508 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Midland States Bancorp during the 3rd quarter worth $244,000. Finally, AQR Capital Management LLC grew its holdings in shares of 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 worth $5,147,000 after purchasing an additional 54,090 shares during the period. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

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.