Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a 1-year consensus target price of $40.00 for the company and are expecting that the company will post $0.65 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 56 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently commented on MSBI. BidaskClub raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. ValuEngine lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Saturday, January 13th.
Midland States Bancorp (NASDAQ MSBI) traded down $0.45 during trading hours on Tuesday, reaching $31.06. The company had a trading volume of 67,400 shares, compared to its average volume of 56,272. The firm has a market capitalization of $602.54, a price-to-earnings ratio of 34.25, a PEG ratio of 1.64 and a beta of 1.31. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.32. Midland States Bancorp has a fifty-two week low of $28.70 and a fifty-two week high of $36.50.
Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.17). Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.90%. The firm had revenue of $50.03 million for the quarter, compared to analyst estimates of $54.10 million. sell-side analysts anticipate that Midland States Bancorp will post 2.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 16th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, February 15th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 95.65%.
In other news, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $32.61, for a total transaction of $65,220.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 10,000 shares of company stock worth $323,060 over the last three months. Insiders own 14.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Northpointe Capital LLC raised its position in shares of Midland States Bancorp by 101.6% during the fourth quarter. Northpointe Capital LLC now owns 507,800 shares of the financial services provider’s stock worth $16,493,000 after acquiring an additional 255,865 shares during the last quarter. Citadel Advisors LLC increased its holdings in Midland States Bancorp by 352.6% in the third quarter. Citadel Advisors LLC now owns 33,526 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 26,118 shares in the last quarter. Maltese Capital Management LLC bought a new stake in Midland States Bancorp in the third quarter worth approximately $6,019,000. California State Teachers Retirement System increased its holdings in Midland States Bancorp by 265.5% in the second quarter. California State Teachers Retirement System now owns 27,120 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 19,700 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Midland States Bancorp in the third quarter worth approximately $329,000. 46.85% of the stock is currently owned by hedge funds and other institutional investors.
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About Midland States Bancorp
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.
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