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

Midland States Bancorp (NASDAQ:MSBI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities research analysts have also recently issued reports on MSBI. Keefe, Bruyette & Woods reduced their target price on Midland States Bancorp from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Piper Sandler dropped their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, DA Davidson dropped their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th.

Midland States Bancorp Trading Down 4.5%

Shares of MSBI stock opened at $17.07 on Tuesday. Midland States Bancorp has a 12-month low of $14.79 and a 12-month high of $28.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average price is $17.07 and its 200-day moving average price is $21.06. The stock has a market capitalization of $365.32 million, a price-to-earnings ratio of -16.26 and a beta of 0.72.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. The firm had revenue of $76.16 million for the quarter, compared to analysts’ expectations of $72.93 million. Equities research analysts predict that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after buying an additional 37,889 shares during the period. SG Americas Securities LLC boosted its position in shares of Midland States Bancorp by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock valued at $398,000 after buying an additional 2,103 shares during the period. R Squared Ltd purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at approximately $39,000. Ieq Capital LLC purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at approximately $210,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at approximately $356,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

About Midland States Bancorp

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.