Midland States Bancorp (NASDAQ:MSBI) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Midland States Bancorp (NASDAQ:MSBI) from a "hold" to a "strong-buy," though the analyst mix remains one Strong Buy, four Holds and one Sell, leaving the consensus rating at "Hold" with a $23.90 average price target.
• Midland posted a quarterly beat with $0.79 EPS versus $0.60 expected and revenue of $81.10M versus $75.59M, reporting a net margin of 7.53% and a return on equity of 11.45%.
• The stock opened at $25.61 (near its 12‑month high of $26.61), has a market cap of about $549.7M and roughly 60.9% of shares are held by institutional investors.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the company. DA Davidson upped their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday. UBS Group set a $25.50 price objective on Midland States Bancorp in a research note on Monday, January 26th. Piper Sandler upped their price objective on Midland States Bancorp from $25.50 to $28.00 and gave the company a "neutral" rating in a research note on Monday. Wall Street Zen raised Midland States Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Midland States Bancorp in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.90.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $25.61 on Tuesday. The company's fifty day moving average price is $22.72 and its 200 day moving average price is $20.75. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $26.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $549.74 million, a P/E ratio of 21.70 and a beta of 0.57.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS 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 11.45%. The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $75.59 million. As a group, sell-side analysts predict that Midland States Bancorp will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its position in Midland States Bancorp by 34.9% during the fourth quarter. Hsbc Holdings PLC now owns 47,004 shares of the financial services provider's stock worth $990,000 after acquiring an additional 12,172 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Midland States Bancorp by 35.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,570 shares of the financial services provider's stock valued at $308,000 after buying an additional 3,837 shares during the period. Empowered Funds LLC lifted its stake in shares of Midland States Bancorp by 10.7% during the fourth quarter. Empowered Funds LLC now owns 67,472 shares of the financial services provider's stock valued at $1,428,000 after buying an additional 6,513 shares during the period. XTX Topco Ltd purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at approximately $471,000. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at approximately $203,000. 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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