Keefe, Bruyette & Woods Cuts Midland States Bancorp (NASDAQ:MSBI) Price Target to $23.00

Midland States Bancorp (NASDAQ:MSBI) had its target price trimmed by Keefe, Bruyette & Woods from $28.00 to $23.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Piper Sandler boosted their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.50.

Midland States Bancorp Stock Performance

MSBI stock opened at $19.67 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $420.96 million, a PE ratio of 8.52 and a beta of 0.76. The business has a 50 day moving average of $24.84 and a 200-day moving average of $23.86. Midland States Bancorp has a 12-month low of $18.75 and a 12-month high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, sell-side analysts expect that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.30%. Midland States Bancorp’s dividend payout ratio is currently -118.10%.

Institutional Trading of Midland States Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Midland States Bancorp in the fourth quarter worth about $39,000. SG Americas Securities LLC grew its holdings in shares of Midland States Bancorp by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 2,103 shares during the period. JPMorgan Chase & Co. raised its position in shares of Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after acquiring an additional 37,889 shares in the last quarter. Barclays PLC lifted its stake in shares of Midland States Bancorp by 55.2% in the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 23,242 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 2,294 shares in the last quarter. Hedge funds and other 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.