Midland States Bancorp (NASDAQ:MSBI) Rating Increased to Buy at StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

MSBI has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

Midland States Bancorp Trading Up 1.4 %

Midland States Bancorp stock traded up $0.32 during mid-day trading on Monday, hitting $22.99. The company’s stock had a trading volume of 84,625 shares, compared to its average volume of 72,332. The stock’s fifty day moving average is $25.77 and its two-hundred day moving average is $23.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $492.01 million, a PE ratio of 9.95 and a beta of 0.76. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.10.

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

Insider Activity

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 in the company, valued at $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

A number of large investors have recently modified their holdings of MSBI. JPMorgan Chase & Co. increased its stake in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after buying an additional 37,889 shares during the period. Barclays PLC grew its holdings in Midland States Bancorp by 55.2% during the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 23,242 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Midland States Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 2,294 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Midland States Bancorp by 15.5% in the 3rd quarter. Jane Street Group LLC now owns 24,534 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 3,300 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Midland States Bancorp by 2.5% during the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after purchasing an additional 14,157 shares during 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 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.