Piper Sandler Reiterates Neutral Rating for Midland States Bancorp (NASDAQ:MSBI)

Midland States Bancorp (NASDAQ:MSBI - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Piper Sandler in a research note issued on Friday, Marketbeat reports. They presently have a $21.00 target price on the financial services provider's stock, up from their previous target price of $18.00. Piper Sandler's price target suggests a potential upside of 10.53% from the company's current price.

Several other research firms have also issued reports on MSBI. Wall Street Zen lowered shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods lowered 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 report on Friday, May 2nd.

Midland States Bancorp Stock Up 1.8%

Shares of MSBI stock traded up $0.34 during trading hours on Friday, hitting $19.00. 125,574 shares of the company's stock traded hands, compared to its average volume of 111,406. The stock's fifty day simple moving average is $17.49 and its two-hundred day simple moving average is $18.66. Midland States Bancorp has a 12-month low of $14.79 and a 12-month high of $28.08. The stock has a market cap of $408.69 million, a price-to-earnings ratio of -18.81 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.64.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Midland States Bancorp had a negative net margin of 2.59% and a negative return on equity of 1.89%. The firm had revenue of $76.16 million during the quarter, compared to analyst estimates of $72.93 million. On average, analysts expect that Midland States Bancorp will post 2.53 EPS for the current year.

Institutional Investors Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Midland States Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider's stock valued at $20,714,000 after acquiring an additional 29,439 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Midland States Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider's stock valued at $12,648,000 after acquiring an additional 6,273 shares in the last quarter. American Century Companies Inc. increased its position in shares of Midland States Bancorp by 7.9% during the first quarter. American Century Companies Inc. now owns 513,136 shares of the financial services provider's stock valued at $8,785,000 after acquiring an additional 37,494 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Midland States Bancorp by 100.7% during the first quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider's stock valued at $6,708,000 after acquiring an additional 196,555 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in Midland States Bancorp by 6.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider's stock worth $5,198,000 after purchasing an additional 18,100 shares during the period. Institutional investors own 60.93% of the company's stock.

About Midland States Bancorp

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.