Midland States Bancorp (NASDAQ:MSBI) Price Target Raised to $28.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective upped by investment analysts at Keefe, Bruyette & Woods from $24.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 5.11% from the stock’s previous close.

Several other equities analysts have also commented on MSBI. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Piper Sandler increased their target price on 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 Stock Up 0.2 %

Shares of NASDAQ MSBI traded up $0.06 during mid-day trading on Wednesday, hitting $26.64. The company had a trading volume of 15,183 shares, compared to its average volume of 79,666. The company has a market capitalization of $570.12 million, a PE ratio of 11.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47. The business’s 50-day simple moving average is $24.60 and its 200 day simple moving average is $23.29.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The business had revenue of $124.17 million for 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 last year, the firm earned $0.78 earnings per share. On average, analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of 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 purchasing an additional 23,242 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Midland States Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after purchasing an additional 2,294 shares during the last quarter. Jane Street Group LLC raised its position in shares of Midland States Bancorp by 15.5% during the 3rd quarter. Jane Street Group LLC now owns 24,534 shares of the financial services provider’s stock worth $549,000 after purchasing an additional 3,300 shares during the last quarter. State Street Corp raised 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. Finally, Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp during the 3rd quarter worth approximately $31,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.