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

StockNews.com cut shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research note issued to investors on Friday.

MSBI has been the subject of several other reports. Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, July 29th.

Midland States Bancorp Stock Performance

MSBI opened at $27.39 on Friday. The stock has a market capitalization of $586.15 million, a price-to-earnings ratio of 11.86 and a beta of 0.74. The company has a fifty day moving average of $23.98 and a 200 day moving average of $23.13. Midland States Bancorp has a fifty-two week low of $20.54 and a fifty-two week high of $28.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. During the same period last year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.53%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of Midland States Bancorp in the 3rd quarter worth about $31,000. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp in the 1st quarter worth about $42,000. Point72 Asset Management L.P. bought a new stake in shares of Midland States Bancorp in the 3rd quarter worth about $45,000. Quantbot Technologies LP lifted its holdings in shares of Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 507 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the last quarter. Institutional investors 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.