Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $27.00

Midland States Bancorp (NASDAQ:MSBI - Free Report) had its price target trimmed by Stephens from $29.00 to $27.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider's stock.

MSBI has been the topic of a number of other reports. Keefe, Bruyette & Woods cut their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a market perform rating on the stock in a research note on Tuesday. Piper Sandler cut their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a neutral rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp currently has a consensus rating of Hold and an average price target of $25.63.

Midland States Bancorp Trading Down 2.7 %

NASDAQ MSBI traded down $0.60 during trading hours on Tuesday, reaching $21.90. The company had a trading volume of 88,967 shares, compared to its average volume of 57,636. The stock has a 50-day moving average of $23.99 and a 200 day moving average of $24.43. Midland States Bancorp has a 1-year low of $17.98 and a 1-year high of $28.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $478.52 million, a P/E ratio of 7.45 and a beta of 0.77.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. The company had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same period in the previous year, the company earned $0.88 EPS. As a group, research analysts anticipate that Midland States Bancorp will post 2.94 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.66%. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, February 15th. Midland States Bancorp's dividend payout ratio is presently 42.18%.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in Midland States Bancorp by 176.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 909 shares during the last quarter. New York State Common Retirement Fund increased its stake in Midland States Bancorp by 3.3% in the third quarter. New York State Common Retirement Fund now owns 47,674 shares of the financial services provider's stock valued at $979,000 after purchasing an additional 1,508 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Midland States Bancorp by 9.0% during the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider's stock worth $467,000 after acquiring an additional 1,532 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Midland States Bancorp by 9.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 19,274 shares of the financial services provider's stock worth $531,000 after acquiring an additional 1,740 shares during the last quarter. Finally, AJOVista LLC purchased a new position in shares of Midland States Bancorp during the fourth quarter worth approximately $67,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

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.