Midland States Bancorp (MSBI) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

MSBI has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 price target on shares of Midland States Bancorp in a research note on Thursday, October 19th. Zacks Investment Research lowered shares of Midland States Bancorp from a hold rating to a sell rating in a research note on Friday, October 20th.

Midland States Bancorp (MSBI) traded down $0.47 during mid-day trading on Thursday, hitting $31.82. 32,627 shares of the company were exchanged, compared to its average volume of 68,368. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.02. Midland States Bancorp has a 12-month low of $28.70 and a 12-month high of $37.58. The stock has a market capitalization of $607.73 and a price-to-earnings ratio of 14.24.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.09). The company had revenue of $52.17 million during the quarter, compared to analysts’ expectations of $55.20 million. Midland States Bancorp had a net margin of 11.90% and a return on equity of 10.22%. sell-side analysts forecast that Midland States Bancorp will post 1.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.80 annualized dividend and a yield of 2.51%. Midland States Bancorp’s dividend payout ratio is currently 54.79%.

In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $31.76, for a total value of $63,520.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 8,000 shares of company stock worth $256,100 over the last quarter. 14.90% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of MSBI. Capital Z Partners Management LLC acquired a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $13,138,000. Stieven Capital Advisors L.P. acquired a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $10,394,000. State Street Corp boosted its holdings in shares of Midland States Bancorp by 367.7% in the second quarter. State Street Corp now owns 246,679 shares of the financial services provider’s stock valued at $8,270,000 after acquiring an additional 193,932 shares during the period. Maltese Capital Management LLC acquired a new stake in shares of Midland States Bancorp in the third quarter valued at approximately $6,019,000. Finally, Banc Funds Co. LLC acquired a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $5,903,000. 45.99% of the stock is owned by institutional investors and hedge funds.

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About Midland States Bancorp

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