Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Average Rating of "Reduce" by Analysts

Key Points

• Midland States Bancorp, Inc. has received an average analyst rating of "Reduce", with one sell and four hold recommendations, alongside a twelve-month price target of $20.75.
• The company reported a miss in earnings per share at $0.44 compared to the consensus estimate of $0.63, despite exceeding revenue expectations with $82.50 million for the quarter.
• Midland States Bancorp recently declared a quarterly dividend of $0.32 per share, increasing from the previous $0.31 and yielding 7.6% annually.

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) have earned an average recommendation of "Reduce" from the five brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.75.

MSBI has been the topic of several research reports. Wall Street Zen upgraded Midland States Bancorp from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Midland States Bancorp in a report on Saturday, September 27th. Piper Sandler reiterated a "neutral" rating and issued a $21.00 target price (up from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Finally, Stephens upgraded Midland States Bancorp to a "hold" rating in a report on Thursday, September 11th.

Midland States Bancorp Trading Up 0.2%

Shares of NASDAQ:MSBI traded up $0.04 during midday trading on Friday, hitting $16.83. 82,343 shares of the stock were exchanged, compared to its average volume of 124,802. The stock has a market capitalization of $362.52 million, a price-to-earnings ratio of -21.86 and a beta of 0.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.85 and a current ratio of 0.86. The business's 50-day moving average price is $17.75 and its 200 day moving average price is $17.44. Midland States Bancorp has a 12 month low of $14.79 and a 12 month high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.19). The firm had revenue of $82.50 million for the quarter, compared to the consensus estimate of $75.76 million. Midland States Bancorp had a negative return on equity of 1.30% and a negative net margin of 1.50%. Analysts predict that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, August 15th. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's dividend payout ratio (DPR) is currently -166.23%.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Midland States Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider's stock worth $20,714,000 after buying an additional 29,439 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider's stock worth $10,491,000 after purchasing an additional 29,829 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Midland States Bancorp by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider's stock worth $9,420,000 after purchasing an additional 30,733 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider's stock worth $9,370,000 after purchasing an additional 149,175 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Midland States Bancorp by 6.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider's stock valued at $5,198,000 after buying an additional 18,100 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors.

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.

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