Midland States Bancorp (NASDAQ:MSBI) Share Price Crosses Below 50 Day Moving Average - What's Next?

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report)'s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.95 and traded as low as $16.13. Midland States Bancorp shares last traded at $16.29, with a volume of 161,401 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods decreased their target price on shares of Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a research report on Friday, May 2nd.

Midland States Bancorp Trading Up 0.6%

The business's 50-day moving average price is $16.95 and its 200 day moving average price is $19.62. The company has a market cap of $348.61 million, a P/E ratio of -16.13 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. Midland States Bancorp had a negative net margin of 2.59% and a negative return on equity of 1.81%. The company had revenue of $76.16 million during the quarter, compared to the consensus estimate of $72.93 million. As a group, analysts expect that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date was Friday, May 16th. Midland States Bancorp's dividend payout ratio (DPR) is presently -122.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MSBI. Ieq Capital LLC bought a new position in shares of Midland States Bancorp in the 4th quarter valued at about $210,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Midland States Bancorp during the 4th quarter worth about $356,000. Bank of New York Mellon Corp boosted its holdings in shares of Midland States Bancorp by 36.9% during the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock worth $5,106,000 after buying an additional 56,441 shares during the period. Dana Investment Advisors Inc. bought a new stake in shares of Midland States Bancorp during the 4th quarter worth about $1,382,000. Finally, Callan Family Office LLC bought a new stake in shares of Midland States Bancorp during the 4th quarter worth about $280,000. Institutional investors own 60.93% of the company's stock.

Midland States Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.