Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by Zacks Research

Midland States Bancorp (NASDAQ:MSBI) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also commented on MSBI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Midland States Bancorp in a research note on Tuesday, October 14th. Piper Sandler reduced their price objective on shares of Midland States Bancorp from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods dropped their price target on shares of Midland States Bancorp from $20.00 to $17.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Finally, Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a report on Thursday, September 11th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $19.25.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $16.01 on Thursday. The company’s 50-day moving average is $17.01 and its two-hundred day moving average is $17.38. Midland States Bancorp has a 1-year low of $14.24 and a 1-year high of $28.08. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $344.92 million, a price-to-earnings ratio of -20.79 and a beta of 0.77.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $70.61 million during the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. Analysts forecast that Midland States Bancorp will post 2.53 EPS for the current year.

Midland States Bancorp declared that its Board of Directors has initiated a share repurchase program on Monday, November 3rd that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Midland States Bancorp

A number of large investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Midland States Bancorp by 162.5% during the 1st quarter. CWM LLC now owns 7,416 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,591 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Midland States Bancorp in the 1st quarter valued at about $1,644,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Midland States Bancorp by 163.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 38,346 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 23,768 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Midland States Bancorp by 129.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,533 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 7,072 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Midland States Bancorp by 60.4% during the first quarter. LPL Financial LLC now owns 117,505 shares of the financial services provider’s stock worth $2,012,000 after purchasing an additional 44,230 shares during the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

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.