Midland States Bancorp (MSBI) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research note released on Friday.

Several other brokerages have also recently weighed in on MSBI. BidaskClub cut Midland States Bancorp from a hold rating to a sell rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded Midland States Bancorp from a sell rating to a buy rating and set a $38.00 price target for the company in a research report on Saturday, January 13th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 price target on shares of Midland States Bancorp in a research report on Thursday, October 19th.

Midland States Bancorp (NASDAQ MSBI) opened at $30.67 on Friday. The firm has a market capitalization of $613.43, a price-to-earnings ratio of 16.12, a PEG ratio of 1.67 and a beta of 1.31. Midland States Bancorp has a 52-week low of $28.70 and a 52-week high of $36.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.02.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.17). The company had revenue of $50.03 million during the quarter, compared to analysts’ expectations of $54.10 million. Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.90%. analysts anticipate that Midland States Bancorp will post 2.75 EPS for the current year.

In related news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $33.85, for a total transaction of $67,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 10,000 shares of company stock valued at $325,340. 14.90% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP purchased a new position in Midland States Bancorp during the second quarter worth about $332,000. Citadel Advisors LLC grew its position in Midland States Bancorp by 352.6% during the third quarter. Citadel Advisors LLC now owns 33,526 shares of the financial services provider’s stock worth $1,062,000 after buying an additional 26,118 shares in the last quarter. Maltese Capital Management LLC purchased a new position in Midland States Bancorp during the third quarter worth about $6,019,000. California State Teachers Retirement System grew its position in Midland States Bancorp by 265.5% during the second quarter. California State Teachers Retirement System now owns 27,120 shares of the financial services provider’s stock worth $909,000 after buying an additional 19,700 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Midland States Bancorp during the third quarter worth about $329,000. Institutional investors and hedge funds own 47.23% of the company’s stock.

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Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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