Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus target price of $30.50 for the company and are predicting that the company will post $0.66 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 170 out of 256 based on the ratings given to its competitors.
Several brokerages have recently commented on MSBI. BidaskClub upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, TheStreet upgraded shares of Midland States Bancorp from a “c+” rating to a “b” rating in a research note on Friday, May 24th.
In other Midland States Bancorp news, SVP Jeffrey A. Brunoehler sold 22,178 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $27.00, for a total transaction of $598,806.00. Following the completion of the transaction, the senior vice president now owns 57,861 shares in the company, valued at approximately $1,562,247. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen A. Erickson sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $26.01, for a total transaction of $91,035.00. Following the transaction, the chief financial officer now owns 14,628 shares of the company’s stock, valued at approximately $380,474.28. The disclosure for this sale can be found here. Insiders sold 54,178 shares of company stock valued at $1,436,636 in the last three months. Company insiders own 12.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MSBI. Bank of Montreal Can lifted its holdings in Midland States Bancorp by 687.3% in the second quarter. Bank of Montreal Can now owns 2,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,835 shares during the period. Prudential Financial Inc. raised its stake in shares of Midland States Bancorp by 6.4% in the second quarter. Prudential Financial Inc. now owns 34,572 shares of the financial services provider’s stock worth $924,000 after buying an additional 2,080 shares during the period. LSV Asset Management bought a new position in shares of Midland States Bancorp in the second quarter worth about $3,620,000. Acadian Asset Management LLC bought a new position in shares of Midland States Bancorp in the second quarter worth about $54,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Midland States Bancorp by 3.9% in the second quarter. JPMorgan Chase & Co. now owns 29,661 shares of the financial services provider’s stock worth $783,000 after buying an additional 1,114 shares during the period. Hedge funds and other institutional investors own 47.51% of the company’s stock.
Shares of MSBI traded down $0.17 during mid-day trading on Friday, hitting $26.03. 30,700 shares of the company’s stock were exchanged, compared to its average volume of 60,307. The firm’s fifty day simple moving average is $26.17. Midland States Bancorp has a twelve month low of $19.56 and a twelve month high of $35.28. The firm has a market capitalization of $625.08 million, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.32.
Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Midland States Bancorp had a net margin of 17.52% and a return on equity of 10.27%. The company had revenue of $65.66 million for the quarter, compared to analyst estimates of $64.90 million. As a group, equities research analysts forecast that Midland States Bancorp will post 2.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 16th will be issued a $0.243 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.73%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 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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