Midland States Bancorp (MSBI) Upgraded to Buy by Zacks Investment Research

Midland States Bancorp (NASDAQ:MSBI) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $38.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.86% from the company’s previous close.

According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “

MSBI has been the topic of several other reports. BidaskClub downgraded shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 target price on shares of Midland States Bancorp in a research note on Thursday, October 19th.

Shares of Midland States Bancorp (MSBI) opened at $33.97 on Friday. Midland States Bancorp has a 52 week low of $28.70 and a 52 week high of $36.50. The firm has a market cap of $648.79 and a P/E ratio of 23.27. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 1.32.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). Midland States Bancorp had a return on equity of 10.22% and a net margin of 11.90%. The business had revenue of $52.17 million for the quarter, compared to analysts’ expectations of $55.20 million. analysts predict that Midland States Bancorp will post 1.38 earnings per share for the current year.

In related news, Director John M. Schultz sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $32.22, for a total transaction of $64,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 8,000 shares of company stock worth $257,800. 14.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MSBI. OxFORD Asset Management LLP acquired a new position in Midland States Bancorp during the 2nd quarter worth approximately $332,000. Citadel Advisors LLC grew its holdings in Midland States Bancorp by 352.6% during the 3rd quarter. Citadel Advisors LLC now owns 33,526 shares of the financial services provider’s stock worth $1,062,000 after acquiring an additional 26,118 shares in the last quarter. Maltese Capital Management LLC acquired a new position in Midland States Bancorp during the 3rd quarter worth approximately $6,019,000. California State Teachers Retirement System grew its holdings in Midland States Bancorp by 265.5% during the 2nd quarter. California State Teachers Retirement System now owns 27,120 shares of the financial services provider’s stock worth $909,000 after acquiring an additional 19,700 shares in the last quarter. Finally, Swiss National Bank acquired a new position in Midland States Bancorp during the 2nd quarter worth approximately $821,000. 45.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Midland States Bancorp

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