Piper Sandler Issues Positive Forecast for Midland States Bancorp (NASDAQ:MSBI) Stock Price

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) had its target price raised by analysts at Piper Sandler from $18.00 to $21.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target would suggest a potential upside of 11.84% from the company's previous close.

Several other research analysts have also commented on MSBI. Keefe, Bruyette & Woods cut their price objective on 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. Wall Street Zen lowered Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI traded down $0.13 during mid-day trading on Friday, reaching $18.78. 32,143 shares of the company's stock were exchanged, compared to its average volume of 112,682. Midland States Bancorp has a 52 week low of $14.79 and a 52 week high of $28.08. The firm has a 50-day moving average price of $17.49 and a two-hundred day moving average price of $18.78. The firm has a market capitalization of $403.87 million, a price-to-earnings ratio of -18.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.81.

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

Institutional Trading of Midland States Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Midland States Bancorp by 100.7% in the first quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider's stock worth $6,708,000 after purchasing an additional 196,555 shares in the last quarter. Nuveen LLC bought a new position in Midland States Bancorp in the first quarter worth $2,886,000. Hillsdale Investment Management Inc. bought a new position in Midland States Bancorp in the fourth quarter worth $2,606,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Midland States Bancorp in the first quarter worth $1,644,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Midland States Bancorp by 72.7% in the fourth quarter. Nuveen Asset Management LLC now owns 167,103 shares of the financial services provider's stock worth $4,077,000 after acquiring an additional 70,320 shares during the last quarter. 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.

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