Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by 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 Wednesday.

A number of other analysts also recently weighed in on MSBI. Keefe, Bruyette & Woods cut their target price on 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. Piper Sandler upped their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Stock Performance

MSBI traded up $2.97 during trading on Wednesday, hitting $27.96. The stock had a trading volume of 359,289 shares, compared to its average volume of 75,453. The company has a 50 day moving average price of $22.92 and a 200-day moving average price of $22.85. The firm has a market cap of $598.06 million, a price-to-earnings ratio of 12.10 and a beta of 0.74. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the prior year, the company posted $0.78 EPS. As a group, research analysts predict that Midland States Bancorp will post 2.14 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after purchasing an additional 55,555 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Midland States Bancorp by 6.7% during the second quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock valued at $3,751,000 after acquiring an additional 10,354 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Midland States Bancorp by 7.4% during the first quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider’s stock valued at $2,327,000 after acquiring an additional 6,371 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Midland States Bancorp by 69.6% during the second quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock valued at $1,691,000 after acquiring an additional 30,677 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Midland States Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 73,651 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 3,752 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

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.