Midland States Bancorp (NASDAQ:MSBI) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Midland States Bancorp has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more positive outlook for the stock.
• Piper Sandler has set a price target of $21.00 for Midland States Bancorp, an increase from a previous target of $18.00.
• The company reported a loss of $0.19 per share in its recent earnings, missing analysts' expectations while showing revenue above estimates at $82.50 million.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Separately, Piper Sandler reiterated a "neutral" rating and set a $21.00 price target (up from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.75.

Midland States Bancorp Stock Up 1.8%

MSBI stock traded up $0.33 during midday trading on Friday, hitting $18.20. The company's stock had a trading volume of 145,400 shares, compared to its average volume of 118,723. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. Midland States Bancorp has a 52-week low of $14.79 and a 52-week high of $28.08. The firm has a market capitalization of $392.03 million, a P/E ratio of -23.64 and a beta of 0.78. The firm has a 50-day simple moving average of $18.04 and a 200-day simple moving average of $17.56.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.19). The firm had revenue of $82.50 million for the quarter, compared to analysts' expectations of $75.76 million. Midland States Bancorp had a negative return on equity of 1.30% and a negative net margin of 1.50%. As a group, equities analysts forecast that Midland States Bancorp will post 2.53 EPS for the current year.

Institutional Trading of Midland States Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Amundi boosted its holdings in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider's stock worth $38,000 after buying an additional 620 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Midland States Bancorp by 136.9% in the fourth quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 2,733 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Midland States Bancorp by 162.5% in the first quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider's stock valued at $96,000 after purchasing an additional 3,457 shares in the last quarter. CWM LLC lifted its holdings in shares of Midland States Bancorp by 162.5% in the first quarter. CWM LLC now owns 7,416 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $201,000. Hedge funds and other 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.