Midland States Bancorp (NASDAQ:MSBI) Lowered to Hold Rating by StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

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

Midland States Bancorp Trading Down 20.0 %

Shares of MSBI traded down $5.00 during trading hours on Friday, hitting $20.00. 586,275 shares of the stock were exchanged, compared to its average volume of 110,104. The firm has a market capitalization of $428 million, a P/E ratio of 8.66 and a beta of 0.76. The business has a 50-day moving average of $25.24 and a 200-day moving average of $23.92. 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 fifty-two week low of $19.75 and a fifty-two week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. On average, research analysts expect that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its position in Midland States Bancorp by 31.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after acquiring an additional 21,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Midland States Bancorp by 51.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 9,953 shares during the last quarter. Barclays PLC boosted its holdings in shares of Midland States Bancorp by 55.2% in 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of Midland States Bancorp by 52.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 valued at $11,460,000 after buying an additional 2,294 shares in the last quarter. 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.