Midland States Bancorp (NASDAQ:MSBI) Downgraded by StockNews.com to “Hold”

Midland States Bancorp (NASDAQ:MSBI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Other research analysts also recently issued research reports about the stock. Piper Sandler increased their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI traded up $0.62 during midday trading on Friday, reaching $27.39. 107,149 shares of the company were exchanged, compared to its average volume of 80,265. The stock has a market cap of $586.17 million, a PE ratio of 11.86 and a beta of 0.74. The business’s fifty day moving average is $23.88 and its two-hundred day moving average is $23.10. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The business had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Insider Activity

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The stock was 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 directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of MSBI. Acadian Asset Management LLC acquired a new position in shares of Midland States Bancorp in the 1st quarter worth approximately $1,106,000. American Century Companies Inc. lifted its stake in Midland States Bancorp by 16.0% during 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 Montreal Can purchased a new position in shares of Midland States Bancorp during the second quarter worth $1,350,000. Hsbc Holdings PLC grew its stake in shares of Midland States Bancorp by 9.9% in the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after buying an additional 2,562 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Midland States Bancorp by 47.5% in the third quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock valued at $318,000 after buying an additional 4,576 shares in the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

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.