Stephens upgraded shares of Midland States Bancorp (NASDAQ:MSBI - Free Report) to a hold rating in a research note released on Thursday morning,Zacks.com reports.
Other equities research analysts have also recently issued research reports about the company. Piper Sandler reaffirmed a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Midland States Bancorp presently has a consensus rating of "Hold" and an average target price of $20.75.
View Our Latest Stock Report on Midland States Bancorp
Midland States Bancorp Trading Up 1.4%
Shares of MSBI traded up $0.25 during trading hours on Thursday, hitting $17.88. 33,863 shares of the stock were exchanged, compared to its average volume of 123,942. Midland States Bancorp has a fifty-two week low of $14.79 and a fifty-two week high of $28.08. The business has a 50-day moving average of $17.99 and a 200-day moving average of $17.52. The firm has a market capitalization of $385.03 million, a P/E ratio of -23.21 and a beta of 0.78. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85.
Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.19). Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. The firm had revenue of $82.50 million for the quarter, compared to the consensus estimate of $75.76 million. On average, research analysts expect that Midland States Bancorp will post 2.53 EPS for the current year.
Midland States Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date was Friday, August 15th. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's dividend payout ratio (DPR) is presently -166.23%.
Institutional Trading of Midland States Bancorp
A number of hedge funds have recently bought and sold shares of MSBI. Amundi increased its stake in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider's stock worth $38,000 after acquiring an additional 620 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Midland States Bancorp by 0.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 90,032 shares of the financial services provider's stock worth $2,197,000 after purchasing an additional 845 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Midland States Bancorp by 5.3% in the second quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider's stock worth $331,000 after purchasing an additional 955 shares during the last quarter. First Trust Advisors LP raised its stake in Midland States Bancorp by 8.1% in the second quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in Midland States Bancorp by 5.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 27,459 shares of the financial services provider's stock valued at $476,000 after purchasing an additional 1,531 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors.
About Midland States Bancorp
(
Get Free Report)
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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