Midland States Bancorp (NASDAQ:MSBI) Lowered to Strong Sell at ValuEngine

ValuEngine downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

A number of other research analysts also recently issued reports on the company. DA Davidson restated a buy rating on shares of Midland States Bancorp in a research note on Monday, November 18th. Zacks Investment Research raised Midland States Bancorp from a sell rating to a hold rating in a research report on Saturday, November 23rd. Finally, BidaskClub upgraded Midland States Bancorp from a hold rating to a buy rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Midland States Bancorp currently has a consensus rating of Hold and an average price target of $27.00.

MSBI stock opened at $28.40 on Wednesday. The firm has a market cap of $681.75 million, a PE ratio of 10.93 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average of $27.47 and a 200-day moving average of $26.35. Midland States Bancorp has a 12-month low of $19.56 and a 12-month high of $28.61.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.13). The business had revenue of $69.06 million for the quarter. Midland States Bancorp had a net margin of 18.30% and a return on equity of 10.01%. On average, research analysts expect that Midland States Bancorp will post 2.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, November 15th. Midland States Bancorp’s dividend payout ratio is 47.55%.

In other Midland States Bancorp news, Director Jerry L. Mcdaniel sold 14,259 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.21, for a total transaction of $373,728.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas J. Tucker sold 5,899 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $28.19, for a total value of $166,292.81. In the last ninety days, insiders sold 108,658 shares of company stock worth $2,994,756. Insiders own 12.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MSBI. Tower Research Capital LLC TRC lifted its position in shares of Midland States Bancorp by 63.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,036 shares of the financial services provider’s stock valued at $28,000 after buying an additional 401 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Midland States Bancorp in the 2nd quarter valued at about $54,000. Bank of Montreal Can raised its stake in Midland States Bancorp by 687.3% in the 2nd quarter. Bank of Montreal Can now owns 2,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,835 shares during the period. Susquehanna International Group LLP bought a new stake in Midland States Bancorp in the 2nd quarter valued at about $211,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Midland States Bancorp during the second quarter valued at about $216,000. 48.76% of the stock is owned by institutional investors and hedge funds.

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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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