Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $23.00 at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its target price cut by Keefe, Bruyette & Woods from $28.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 16.63% from the stock’s current price.

A number of other equities analysts have also commented on the company. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler lifted their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Price Performance

NASDAQ MSBI opened at $19.72 on Monday. Midland States Bancorp has a fifty-two week low of $19.75 and a fifty-two week high of $28.10. The stock’s 50-day moving average is $25.24 and its two-hundred day moving average is $23.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $422.03 million, a P/E ratio of 8.65 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. On average, analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Large investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in Midland States Bancorp during the 3rd quarter worth approximately $31,000. R Squared Ltd bought a new stake in Midland States Bancorp during the 4th quarter worth approximately $39,000. Point72 Asset Management L.P. bought a new stake in Midland States Bancorp during the 3rd quarter worth approximately $45,000. Quantbot Technologies LP grew its position in Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 507 shares during the last quarter. Finally, US Bancorp DE grew its position in Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the last quarter. 60.93% of the stock is currently owned by 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.