Zacks: Midland States Bancorp Inc (NASDAQ:MSBI) Given Average Rating of “Strong Buy” by Brokerages

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $30.50 for the company and are forecasting that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 210 out of 255 based on the ratings given to its competitors.

MSBI has been the topic of several recent research reports. ValuEngine cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, BidaskClub upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st.

MSBI opened at $26.54 on Wednesday. The business’s 50-day simple moving average is $26.33 and its 200-day simple moving average is $26.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 1.05. Midland States Bancorp has a one year low of $19.56 and a one year high of $28.24. The stock has a market capitalization of $650.05 million, a P/E ratio of 13.01 and a beta of 1.36.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The firm had revenue of $65.66 million for 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 research analysts forecast that Midland States Bancorp will post 2.56 EPS for the current fiscal year.

In related news, SVP Jeffrey A. Brunoehler sold 22,178 shares of the business’s 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 owns 57,861 shares in the company, valued at approximately $1,562,247. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leon J. Holschbach sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.74, for a total value of $254,030.00. The disclosure for this sale can be found here. Insiders sold a total of 60,195 shares of company stock worth $1,602,479 in the last 90 days. 12.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC increased its position in shares of Midland States Bancorp by 36.9% during the 2nd quarter. Ridgewood Investments LLC now owns 13,160 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 3,546 shares during the last quarter. Strs Ohio bought a new position in shares of Midland States Bancorp during the 2nd quarter valued at approximately $574,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Midland States Bancorp during the 2nd quarter valued at approximately $514,000. Swiss National Bank increased its position in shares of Midland States Bancorp by 3.6% during the 2nd quarter. Swiss National Bank now owns 40,300 shares of the financial services provider’s stock valued at $1,077,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Midland States Bancorp by 75.8% during the 2nd quarter. Wells Fargo & Company MN now owns 347,490 shares of the financial services provider’s stock valued at $9,286,000 after purchasing an additional 149,871 shares during the last quarter. Institutional investors own 47.70% 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.

Featured Story: How to Invest in Growth Stocks

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.