Analysts Set $39.00 Target Price for Midland States Bancorp Inc (MSBI)

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $39.00 for the company and are expecting that the company will post $0.59 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 76 out of 265 based on the ratings given to its competitors.

MSBI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Midland States Bancorp in a report on Thursday, October 19th. Finally, BidaskClub cut shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Friday, December 15th.

Midland States Bancorp (NASDAQ:MSBI) opened at $32.71 on Friday. Midland States Bancorp has a 52-week low of $28.70 and a 52-week high of $37.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a market cap of $620.14, a PE ratio of 21.24, a P/E/G ratio of 2.72 and a beta of 2.17.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.09). The company had revenue of $52.17 million for 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%. research analysts forecast that Midland States Bancorp will post 1.71 EPS for the current fiscal year.

In other news, Director Robert F. Schultz sold 2,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $31.17, for a total transaction of $62,340.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 8,000 shares of company stock worth $256,100. Corporate insiders own 14.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in Midland States Bancorp by 279.6% during the third quarter. Meeder Asset Management Inc. now owns 3,158 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 2,326 shares during the period. Legal & General Group Plc lifted its position in Midland States Bancorp by 581.8% during the second quarter. Legal & General Group Plc now owns 3,941 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 3,363 shares during the period. SG Americas Securities LLC bought a new position in Midland States Bancorp during the third quarter valued at approximately $184,000. Susquehanna International Group LLP bought a new position in Midland States Bancorp during the second quarter valued at approximately $209,000. Finally, Blair William & Co. IL lifted its position in Midland States Bancorp by 0.9% during the second quarter. Blair William & Co. IL now owns 6,629 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 60 shares during the period. Institutional investors own 45.99% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Analysts Set $39.00 Target Price for Midland States Bancorp Inc (MSBI)” was first published by Week Herald and is the sole property of of Week Herald. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://weekherald.com/2017/12/29/analysts-set-39-00-target-price-for-midland-states-bancorp-inc-msbi.html.

Midland States Bancorp Company Profile

Get a free copy of the Zacks research report on Midland States Bancorp (MSBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Midland States Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Midland States Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply