Midland States Bancorp Inc (NASDAQ:MSBI) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, 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 expecting that the company will post $0.66 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 150 out of 256 based on the ratings given to related companies.
Several analysts have commented on the company. BidaskClub upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. TheStreet upgraded Midland States Bancorp from a “c+” rating to a “b” rating in a report on Friday, May 24th. ValuEngine upgraded Midland States Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 9th.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $65.66 million during the quarter, compared to analysts’ expectations of $64.90 million. Midland States Bancorp had a return on equity of 10.14% and a net margin of 17.52%. On average, equities analysts expect that Midland States Bancorp will post 2.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 16th will be paid a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, August 15th. Midland States Bancorp’s dividend payout ratio is currently 47.55%.
In other news, SVP Jeffrey A. Brunoehler sold 22,178 shares of Midland States Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $27.00, for a total value of $598,806.00. Following the transaction, the senior vice president now directly owns 57,861 shares of the company’s stock, valued at approximately $1,562,247. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen A. Erickson sold 3,500 shares of Midland States Bancorp stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $26.01, for a total value of $91,035.00. Following the completion of the transaction, the chief financial officer now directly owns 14,628 shares in the company, valued at $380,474.28. The disclosure for this sale can be found here. Insiders sold a total of 54,178 shares of company stock worth $1,436,636 over the last ninety days. Corporate insiders own 12.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSBI. Kennedy Capital Management Inc. bought a new position in Midland States Bancorp during the 1st quarter worth $3,609,000. Wells Fargo & Company MN lifted its holdings in shares of Midland States Bancorp by 75.8% in the second quarter. Wells Fargo & Company MN now owns 347,490 shares of the financial services provider’s stock valued at $9,286,000 after buying an additional 149,871 shares during the period. LSV Asset Management acquired a new stake in shares of Midland States Bancorp in the second quarter valued at $3,620,000. Dimensional Fund Advisors LP lifted its holdings in shares of Midland States Bancorp by 25.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 559,834 shares of the financial services provider’s stock valued at $12,507,000 after buying an additional 114,165 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Midland States Bancorp by 7.3% in the second 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. 48.19% of the stock is currently owned by institutional investors and hedge funds.
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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