Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts maintain a “Hold” consensus on Midland States Bancorp, with all five covering brokerages issuing hold ratings and an average 12-month price target of $31.12.
• The company exceeded quarterly expectations, reporting $0.82 in EPS versus the $0.78 consensus and revenue of $83.74 million, above estimates of $80.70 million.
• Midland States increased its quarterly dividend to $0.33 from $0.32, implying a $1.32 annualized payout and a 4.1% yield; meanwhile, insiders sold 12,470 shares worth approximately $421,374 during the quarter.

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) have earned an average rating of "Hold" from the five brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have covered the stock in the last year is $31.12.

MSBI has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. DA Davidson lifted their price target on Midland States Bancorp from $30.00 to $33.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings raised Midland States Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Finally, Zacks Research downgraded Midland States Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th.

Insider Buying and Selling

In other Midland States Bancorp news, COO Kyle Mooney sold 2,400 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at approximately $453,621.30. This trade represents a 14.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey G. Ludwig sold 8,383 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares of the company's stock, valued at $13,633,014. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,470 shares of company stock valued at $421,374. 8.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new position in Midland States Bancorp during the 2nd quarter worth $228,000. HighTower Advisors LLC grew its position in shares of Midland States Bancorp by 58.1% in the 2nd quarter. HighTower Advisors LLC now owns 19,515 shares of the financial services provider's stock valued at $608,000 after buying an additional 7,169 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Midland States Bancorp by 18.8% in the 2nd quarter. Hsbc Holdings PLC now owns 58,716 shares of the financial services provider's stock valued at $1,820,000 after buying an additional 9,277 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $2,893,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Midland States Bancorp in the second quarter valued at about $710,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Stock Up 0.6%

Shares of MSBI opened at $32.35 on Tuesday. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $35.10. The firm's 50 day moving average is $33.11 and its 200-day moving average is $29.71. The stock has a market capitalization of $671.26 million, a PE ratio of 20.74 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $83.74 million for the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Equities research analysts forecast that Midland States Bancorp will post 3.39 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were given a $0.33 dividend. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, August 14th. Midland States Bancorp's dividend payout ratio (DPR) is presently 84.62%.

About Midland States Bancorp

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking and related financial services to consumers, businesses and institutions.

Midland States Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and other business banking services. Its service offerings also include wealth management, trust and investment services, mortgage banking and equipment financing.

The company traces its banking operations to 1881 and serves customers primarily through a regional branch network and digital banking channels in the Midwest, with a significant presence in Illinois and additional operations in surrounding states.

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