Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Midland States Bancorp currently has a consensus analyst rating of “Hold”, with five analysts on hold and one on strong buy. The average 1-year price target is $23.90.
• The company recently reported quarterly earnings of $0.79 per share, beating expectations of $0.60, while revenue also came in above estimates at $81.1 million. Analysts expect full-year earnings of 3.17 per share.
• Midland States Bancorp announced a $45 million share buyback and paid a quarterly dividend of $0.32 per share, implying a 4.4% yield. Insider and institutional activity has also been notable, including a director share purchase and heavy hedge fund ownership.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) has earned an average recommendation of "Hold" from the six ratings firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.90.

Several research firms recently weighed in on MSBI. Wall Street Zen downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Piper Sandler upped their price target on shares of Midland States Bancorp from $25.50 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. DA Davidson upped their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Midland States Bancorp from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded shares of Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th.

Midland States Bancorp Stock Up 0.5%

MSBI opened at $28.89 on Wednesday. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $29.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $25.84 and a 200 day moving average price of $22.98. The company has a market cap of $598.89 million, a PE ratio of 24.48 and a beta of 0.67.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $75.59 million. Sell-side analysts expect that Midland States Bancorp will post 3.17 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, May 15th. Midland States Bancorp's dividend payout ratio is 108.47%.

Midland States Bancorp announced that its board has approved a share buyback plan on Wednesday, May 6th that allows the company to repurchase $45.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Midland States Bancorp news, Director Travis Franklin acquired 9,400 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $26.49 per share, for a total transaction of $249,006.00. Following the acquisition, the director owned 9,400 shares in the company, valued at approximately $249,006. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.57% of the company's stock.

Institutional Trading of Midland States Bancorp

A number of hedge funds have recently bought and sold shares of MSBI. Patriot Financial Partners GP II L.P. acquired a new stake in Midland States Bancorp in the 1st quarter valued at about $9,783,000. AQR Capital Management LLC raised its holdings in 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 valued at $9,370,000 after acquiring an additional 149,175 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider's stock valued at $5,046,000 after acquiring an additional 117,422 shares during the last quarter. Algert Global LLC acquired a new stake in Midland States Bancorp in the 3rd quarter valued at about $1,297,000. Finally, Royal Bank of Canada raised its holdings in Midland States Bancorp by 8,633.1% in the 4th quarter. Royal Bank of Canada now owns 68,555 shares of the financial services provider's stock valued at $1,451,000 after acquiring an additional 67,770 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company's offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

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