Brokerages Set $38.50 Target Price for Midland States Bancorp Inc (MSBI)

Midland States Bancorp Inc (NASDAQ:MSBI) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price objective of $38.50 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 103 out of 255 based on the ratings given to related companies.

A number of equities research analysts have issued reports on MSBI shares. Zacks Investment Research upgraded Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 3rd. BidaskClub downgraded shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, May 14th.

In other Midland States Bancorp news, CEO Leon J. Holschbach sold 8,500 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $31.86, for a total value of $270,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Schultz sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $31.99, for a total transaction of $63,980.00. The disclosure for this sale can be found here. In the last three months, insiders sold 249,762 shares of company stock valued at $8,038,821. 9.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MSBI. BlackRock Inc. lifted its holdings in shares of Midland States Bancorp by 31.1% in the 1st quarter. BlackRock Inc. now owns 1,026,318 shares of the financial services provider’s stock worth $32,391,000 after acquiring an additional 243,517 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in shares of Midland States Bancorp by 24.2% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 866,792 shares of the financial services provider’s stock valued at $28,153,000 after buying an additional 168,905 shares in the last quarter. Jacobs Asset Management LLC increased its stake in shares of Midland States Bancorp by 5.0% in the first quarter. Jacobs Asset Management LLC now owns 599,239 shares of the financial services provider’s stock valued at $18,912,000 after buying an additional 28,490 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Midland States Bancorp by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 226,927 shares of the financial services provider’s stock valued at $7,162,000 after buying an additional 52,882 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in shares of Midland States Bancorp by 21.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 179,840 shares of the financial services provider’s stock valued at $5,841,000 after buying an additional 31,510 shares in the last quarter. 40.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of Midland States Bancorp traded up $0.31, hitting $33.77, during trading hours on Monday, according to MarketBeat. The company had a trading volume of 1,113 shares, compared to its average volume of 79,358. The company has a market cap of $799.19 million, a P/E ratio of 16.87, a P/E/G ratio of 2.03 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.25. Midland States Bancorp has a 52-week low of $28.70 and a 52-week high of $36.50.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Midland States Bancorp had a return on equity of 7.97% and a net margin of 4.12%. The firm had revenue of $54.79 million for the quarter, compared to the consensus estimate of $55.00 million. equities research analysts forecast that Midland States Bancorp will post 2.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, May 17th. Midland States Bancorp’s payout ratio is currently 44.22%.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

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