Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms also recently commented on MSBI. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Piper Sandler increased their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Stock Up 2.3 %

Midland States Bancorp stock traded up $0.62 during trading on Friday, reaching $27.39. The stock had a trading volume of 107,149 shares, compared to its average volume of 80,265. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.47. The business has a 50 day moving average price of $23.88 and a 200 day moving average price of $23.10. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock has a market cap of $586.17 million, a PE ratio of 11.86 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, analysts predict that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Midland States Bancorp during the 1st quarter worth $1,106,000. American Century Companies Inc. grew its stake in Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after acquiring an additional 55,555 shares during the last quarter. Bank of Montreal Can acquired a new position in Midland States Bancorp during the second quarter worth about $1,350,000. Hsbc Holdings PLC lifted its holdings in shares of Midland States Bancorp by 9.9% in the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 2,562 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 47.5% in the third quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 4,576 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

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, 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.