Midland States Bancorp (NASDAQ:MSBI) Reaches New 12-Month High - What's Next?

Key Points

• Midland States Bancorp shares hit a new 52-week high of $24.60 (last $24.6040) with a 50‑day/200‑day moving average of $22.46/$20.00 and a market capitalization of about $529.3M.
• Analysts are mixed: the consensus rating is Reduce with an average target of $23.00 (below the current price), though some firms have raised targets to $25.50 and most issued Hold ratings.
• The bank missed quarterly EPS estimates ($0.53 vs. $0.70) but beat revenue, declared a quarterly dividend equal to a 5.2% yield with a 126.73% payout ratio (a sustainability concern), and reported an insider sale.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $24.60 and last traded at $24.6040, with a volume of 45344 shares traded. The stock had previously closed at $24.16.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MSBI shares. UBS Group set a $25.50 target price on Midland States Bancorp in a research report on Monday, January 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Midland States Bancorp in a research report on Friday, March 27th. DA Davidson increased their target price on Midland States Bancorp from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, January 26th. Piper Sandler increased their target price on Midland States Bancorp from $23.00 to $25.50 and gave the stock a "neutral" rating in a research report on Monday, January 26th. Finally, Zacks Research lowered Midland States Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $23.00.

Midland States Bancorp Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $22.46 and a 200-day moving average of $20.00. The stock has a market capitalization of $529.34 million, a P/E ratio of 24.45 and a beta of 0.57.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.17). The firm had revenue of $85.79 million for the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. On average, equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.28 dividend on an annualized basis and a yield of 5.2%. Midland States Bancorp's payout ratio is 126.73%.

Insider Activity

In other news, COO Kyle Owen Mooney sold 2,808 shares of Midland States Bancorp stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total value of $63,657.36. Following the transaction, the chief operating officer directly owned 14,207 shares in the company, valued at approximately $322,072.69. This trade represents a 16.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.27% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its stake in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider's stock worth $43,000 after buying an additional 503 shares during the last quarter. Amundi lifted its holdings in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider's stock valued at $38,000 after buying an additional 620 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Midland States Bancorp by 5.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider's stock valued at $331,000 after buying an additional 955 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Midland States Bancorp by 2.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider's stock valued at $885,000 after buying an additional 992 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Midland States Bancorp by 3.4% in the 3rd quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider's stock valued at $562,000 after buying an additional 1,071 shares during the period. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

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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