Midland States Bancorp Inc (NASDAQ:MSBI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus price target of $30.50 for the company and are forecasting that the company will post $0.64 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 185 out of 256 based on the ratings given to its competitors.
Several equities research analysts have issued reports on the company. BidaskClub cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Zacks Investment Research raised Midland States Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, April 3rd. ValuEngine raised Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, TheStreet raised Midland States Bancorp from a “c+” rating to a “b” rating in a research note on Friday, May 24th.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Midland States Bancorp had a return on equity of 10.06% and a net margin of 16.69%. The firm had revenue of $62.68 million during the quarter, compared to analysts’ expectations of $64.70 million. As a group, equities research analysts anticipate that Midland States Bancorp will post 2.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a dividend of $0.2425 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.97 annualized dividend and a yield of 3.87%. Midland States Bancorp’s dividend payout ratio (DPR) is 47.55%.
In other news, Director Leon J. Holschbach sold 9,500 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.20, for a total transaction of $239,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R. Robert Funderburg, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.94, for a total value of $249,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,301 shares of company stock valued at $1,643,830. 12.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Midland States Bancorp by 2.8% in the fourth quarter. BlackRock Inc. now owns 1,392,525 shares of the financial services provider’s stock valued at $31,109,000 after purchasing an additional 37,847 shares during the period. Vanguard Group Inc. boosted its holdings in Midland States Bancorp by 3.0% in the third quarter. Vanguard Group Inc. now owns 835,884 shares of the financial services provider’s stock valued at $26,831,000 after purchasing an additional 24,101 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Midland States Bancorp by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 663,288 shares of the financial services provider’s stock valued at $15,959,000 after purchasing an additional 103,454 shares during the period. Wellington Management Group LLP boosted its holdings in Midland States Bancorp by 3.3% in the first quarter. Wellington Management Group LLP now owns 586,815 shares of the financial services provider’s stock valued at $14,119,000 after purchasing an additional 18,900 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Midland States Bancorp by 6.5% in the fourth quarter. Bank of America Corp DE now owns 303,969 shares of the financial services provider’s stock valued at $6,791,000 after purchasing an additional 18,511 shares during the period. Institutional investors and hedge funds own 47.56% 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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.
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