Zacks: Analysts Expect Midland States Bancorp Inc (NASDAQ:MSBI) Will Post Earnings of $0.59 Per Share

Share on StockTwits

Wall Street brokerages expect that Midland States Bancorp Inc (NASDAQ:MSBI) will report earnings of $0.59 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Midland States Bancorp’s earnings. Midland States Bancorp posted earnings per share of $0.67 during the same quarter last year, which would suggest a negative year over year growth rate of 11.9%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, January 23rd.

According to Zacks, analysts expect that Midland States Bancorp will report full-year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.34 to $2.63. For the next year, analysts expect that the firm will post earnings of $2.78 per share, with EPS estimates ranging from $2.74 to $2.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Midland States Bancorp.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Friday, October 25th. The financial services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.13). The firm had revenue of $69.06 million for the quarter. Midland States Bancorp had a net margin of 18.30% and a return on equity of 10.01%.

A number of equities analysts recently commented on MSBI shares. Zacks Investment Research raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. BidaskClub lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Midland States Bancorp in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.00.

In other Midland States Bancorp news, SVP Douglas J. Tucker sold 2,552 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.42, for a total transaction of $72,527.84. Following the sale, the senior vice president now owns 31,025 shares in the company, valued at $881,730.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leon J. Holschbach sold 9,500 shares of Midland States Bancorp stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.65, for a total value of $272,175.00. The disclosure for this sale can be found here. Insiders sold a total of 119,622 shares of company stock worth $3,341,842 over the last 90 days. 12.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSBI. BlackRock Inc. boosted its position in Midland States Bancorp by 7.3% during the 2nd quarter. BlackRock Inc. now owns 1,477,062 shares of the financial services provider’s stock valued at $39,467,000 after buying an additional 101,024 shares during the period. Vanguard Group Inc. increased its stake in shares of Midland States Bancorp by 1.8% in the second quarter. Vanguard Group Inc. now owns 923,829 shares of the financial services provider’s stock valued at $24,685,000 after buying an additional 16,063 shares during the period. State Street Corp raised its position in Midland States Bancorp by 2.9% during the 3rd quarter. State Street Corp now owns 503,267 shares of the financial services provider’s stock worth $13,110,000 after purchasing an additional 14,269 shares during the last quarter. Northern Trust Corp increased its stake in shares of Midland States Bancorp by 1.5% in the second quarter. Northern Trust Corp now owns 261,346 shares of the financial services provider’s stock valued at $6,983,000 after buying an additional 3,770 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Midland States Bancorp by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 163,481 shares of the financial services provider’s stock worth $4,369,000 after purchasing an additional 3,634 shares during the period. 48.76% of the stock is owned by institutional investors.

MSBI traded up $0.28 during trading on Thursday, hitting $28.87. 792 shares of the company traded hands, compared to its average volume of 51,676. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.25. The company has a market cap of $697.76 million, a PE ratio of 14.10 and a beta of 1.37. The stock’s 50-day simple moving average is $28.64 and its two-hundred day simple moving average is $27.02. Midland States Bancorp has a 1 year low of $22.61 and a 1 year high of $29.50.

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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

Read More: What is a stock portfolio tracker?

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.