Midland States Bancorp Inc (NASDAQ:MSBI) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus target price of $30.50 for the company and are expecting that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 161 out of 256 based on the ratings given to its competitors.
Several research firms have recently commented on MSBI. BidaskClub lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Zacks Investment Research raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, April 3rd. ValuEngine raised shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, TheStreet upgraded Midland States Bancorp from a “c+” rating to a “b” rating in a report on Friday, May 24th.
Shares of Midland States Bancorp stock traded up $0.75 during trading on Monday, hitting $25.00. 48,500 shares of the stock traded hands, compared to its average volume of 56,254. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.32. The firm has a market cap of $600.06 million, a P/E ratio of 12.25, a P/E/G ratio of 1.35 and a beta of 1.35. 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 released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Midland States Bancorp had a net margin of 16.69% and a return on equity of 10.06%. The company had revenue of $62.68 million during the quarter, compared to analyst estimates of $64.70 million. Analysts forecast that Midland States Bancorp will post 2.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.2425 per share. The ex-dividend date was Friday, May 10th. This represents a $0.97 annualized dividend and a yield of 3.88%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 47.55%.
In other Midland States Bancorp news, Director R. Robert Funderburg, Jr. sold 10,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.94, for a total transaction of $249,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leon J. Holschbach sold 19,000 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.86, for a total value of $472,340.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,301 shares of company stock worth $1,643,830 in the last ninety days. Insiders own 12.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new stake in Midland States Bancorp during the 4th quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Midland States Bancorp by 23.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,050 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 392 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Midland States Bancorp by 148.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,803 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,273 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Midland States Bancorp by 73,150.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,395 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 4,389 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Midland States Bancorp by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 5,534 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.
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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