Midland States Bancorp (NASDAQ:MSBI) Rating Lowered to “Hold” at Wall Street Zen

Midland States Bancorp (NASDAQ:MSBI) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

MSBI has been the subject of a number of other research reports. Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Piper Sandler raised their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. DA Davidson boosted their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.10.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $32.85 on Friday. The firm has a market cap of $681.70 million, a P/E ratio of 21.06 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The stock’s 50 day simple moving average is $31.69 and its 200-day simple moving average is $27.01. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $35.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The business had revenue of $83.74 million during the quarter, compared to analysts’ expectations of $80.70 million. Equities analysts anticipate that Midland States Bancorp will post 3.4 EPS for the current year.

Midland States Bancorp declared that its board has initiated a stock buyback program on Wednesday, May 6th that allows the company to repurchase $45.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the transaction, the chief executive officer directly owned 400,971 shares of the company’s stock, valued at $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kyle Owen Mooney sold 1,198 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98. Following the transaction, the chief operating officer directly owned 14,099 shares in the company, valued at approximately $472,457.49. This trade represents a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,070 shares of company stock valued at $341,382. 8.57% of the stock is owned by corporate insiders.

Institutional Trading of Midland States Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Amundi increased its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Midland States Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 2,004 shares during the period. Jane Street Group LLC purchased a new stake in shares of Midland States Bancorp during the 1st quarter worth approximately $354,000. Rhumbline Advisers boosted its stake in shares of Midland States Bancorp by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock worth $560,000 after acquiring an additional 1,687 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Midland States Bancorp by 18.1% during the 2nd quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 5,075 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.