Midland States Bancorp (NASDAQ:MSBI) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a report published on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also commented on MSBI. Zacks Investment Research lowered Midland States Bancorp from a hold rating to a sell rating in a research note on Tuesday. TheStreet upgraded Midland States Bancorp from a c+ rating to a b rating in a research note on Friday, May 24th. Finally, ValuEngine lowered Midland States Bancorp from a sell rating to a strong sell rating in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $27.00.

NASDAQ:MSBI opened at $25.34 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $609.76 million, a PE ratio of 12.42, a P/E/G ratio of 1.39 and a beta of 1.35. Midland States Bancorp has a one year low of $19.56 and a one year high of $36.06.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $62.68 million during the quarter, compared to analyst estimates of $64.70 million. Midland States Bancorp had a return on equity of 10.06% and a net margin of 16.69%. Sell-side analysts expect that Midland States Bancorp will post 2.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.2425 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.97 annualized dividend and a dividend yield of 3.83%. Midland States Bancorp’s dividend payout ratio (DPR) is 47.55%.

In other Midland States Bancorp news, Director Leon J. Holschbach sold 19,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $24.86, for a total value of $472,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R. Robert Funderburg, Jr. sold 6,080 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $25.07, for a total value of $152,425.60. The disclosure for this sale can be found here. Insiders sold a total of 54,301 shares of company stock valued at $1,394,430 over the last 90 days. 12.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in 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 in the last quarter. Vanguard Group Inc. increased its stake in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. Wellington Management Group LLP increased its stake in 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 in the last quarter. Finally, Bank of America Corp DE increased its stake in Midland States Bancorp by 6.5% in the 4th quarter. Bank of America Corp DE now owns 303,969 shares of the financial services provider’s stock worth $6,791,000 after buying an additional 18,511 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

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.

Read More: What is the Coverage Ratio?

Receive News & Ratings for Midland States Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Midland States Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.