Midland States Bancorp, Inc. (NASDAQ:MSBI)‘s stock had its “buy” rating reissued by equities researchers at Keefe, Bruyette & Woods in a report issued on Thursday, October 19th. They currently have a $42.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 29.27% from the company’s previous close.
Separately, Zacks Investment Research upgraded Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th.
Midland States Bancorp (MSBI) opened at 32.49 on Thursday. The firm has a 50-day moving average of $32.49 and a 200 day moving average of $32.96. Midland States Bancorp has a 52 week low of $24.70 and a 52 week high of $37.58. The stock has a market capitalization of $620.40 million, a price-to-earnings ratio of 16.90 and a beta of 2.37.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.07). Midland States Bancorp had a return on equity of 10.65% and a net margin of 15.60%. The company had revenue of $43.02 million during the quarter, compared to the consensus estimate of $45.60 million. On average, analysts anticipate that Midland States Bancorp will post $1.89 EPS for the current year.
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In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $31.76, for a total transaction of $63,520.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 1,455 shares of company stock worth $44,107 and have sold 6,000 shares worth $188,400. Insiders own 14.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Blair William & Co. IL lifted its holdings in Midland States Bancorp by 0.9% during the second quarter. Blair William & Co. IL now owns 6,629 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 60 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Midland States Bancorp by 2.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 11,814 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 236 shares during the period. Alliancebernstein L.P. raised its stake in shares of Midland States Bancorp by 20.0% in the 2nd quarter. Alliancebernstein L.P. now owns 10,800 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 1,800 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Midland States Bancorp by 7.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 25,702 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 1,811 shares during the period. Finally, Federated Investors Inc. PA raised its stake in shares of Midland States Bancorp by 4.8% in the 2nd quarter. Federated Investors Inc. PA now owns 40,738 shares of the financial services provider’s stock valued at $1,366,000 after purchasing an additional 1,848 shares during the period. Hedge funds and other institutional investors own 46.58% of the company’s stock.
About Midland States Bancorp
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