Midland States Bancorp Inc (MSBI) Given $29.50 Average Price Target by Brokerages

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price target of $29.50 for the company and are anticipating that the company will post $0.64 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 183 out of 256 based on the ratings given to its competitors.

Several brokerages have commented on MSBI. ValuEngine raised Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. BidaskClub raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Finally, Zacks Investment Research downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th.

In other Midland States Bancorp news, CFO Stephen A. Erickson sold 2,110 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.25, for a total value of $53,277.50. Following the transaction, the chief financial officer now owns 13,063 shares of the company’s stock, valued at approximately $329,840.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen A. Erickson sold 3,308 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $24.55, for a total value of $81,211.40. Following the completion of the transaction, the chief financial officer now directly owns 14,261 shares in the company, valued at approximately $350,107.55. The disclosure for this sale can be found here. Insiders sold a total of 77,277 shares of company stock worth $1,975,604 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Midland States Bancorp by 2.8% in the 4th quarter. BlackRock Inc. now owns 1,392,525 shares of the financial services provider’s stock worth $31,109,000 after buying an additional 37,847 shares during the period. Vanguard Group Inc lifted its holdings in shares of Midland States Bancorp by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 835,884 shares of the financial services provider’s stock worth $26,831,000 after buying an additional 24,101 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Midland States Bancorp by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 835,884 shares of the financial services provider’s stock worth $26,831,000 after buying an additional 24,101 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Midland States Bancorp by 18.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 663,288 shares of the financial services provider’s stock worth $15,959,000 after buying an additional 103,454 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Midland States Bancorp by 3.3% in the 1st quarter. Wellington Management Group LLP now owns 586,815 shares of the financial services provider’s stock worth $14,119,000 after buying an additional 18,900 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Shares of Midland States Bancorp stock opened at $25.56 on Friday. The firm has a market capitalization of $615.06 million, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.05 and a current ratio of 1.05. Midland States Bancorp has a 52 week low of $19.56 and a 52 week high of $36.06.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $62.68 million for the quarter, compared to the consensus estimate of $64.70 million. Midland States Bancorp had a return on equity of 10.06% and a net margin of 16.69%. On average, equities analysts expect that Midland States Bancorp will post 2.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, May 10th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 47.55%.

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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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