Midland States Bancorp (NASDAQ:MSBI) Rating Reiterated by DA Davidson

DA Davidson reaffirmed their buy rating on shares of Midland States Bancorp (NASDAQ:MSBI) in a research report report published on Monday, Zacks.com reports. DA Davidson also issued estimates for Midland States Bancorp’s Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $2.34 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.69 EPS, Q3 2020 earnings at $0.76 EPS, Q4 2020 earnings at $0.74 EPS and FY2020 earnings at $2.82 EPS.

MSBI has been the topic of several other reports. BidaskClub raised Midland States Bancorp from a hold rating to a buy rating in a research report on Friday, November 8th. ValuEngine downgraded Midland States Bancorp from a hold rating to a sell rating in a research report on Monday, October 21st. Finally, Zacks Investment Research downgraded Midland States Bancorp from a hold rating to a sell rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Midland States Bancorp presently has a consensus rating of Hold and an average target price of $27.00.

Shares of MSBI opened at $27.75 on Monday. The business’s 50-day moving average is $26.80 and its two-hundred day moving average is $26.23. The company has a market capitalization of $680.78 million, a P/E ratio of 13.60 and a beta of 1.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.04 and a current ratio of 1.05. Midland States Bancorp has a fifty-two week low of $19.56 and a fifty-two week high of $28.31.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.13). The company had revenue of $69.06 million for the quarter. Midland States Bancorp had a return on equity of 10.01% and a net margin of 18.30%. Analysts forecast that Midland States Bancorp will post 2.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, November 15th. Midland States Bancorp’s dividend payout ratio is currently 47.55%.

In other news, Director Jerry L. Mcdaniel sold 14,259 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.21, for a total transaction of $373,728.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas J. Tucker sold 5,899 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $28.19, for a total value of $166,292.81. Insiders have sold a total of 101,150 shares of company stock worth $2,780,453 over the last ninety days. 12.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of MSBI. Ridgewood Investments LLC grew 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 acquiring an additional 3,546 shares during the period. Strs Ohio acquired a new stake in shares of Midland States Bancorp during the 2nd quarter valued at about $574,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Midland States Bancorp during the 2nd quarter valued at about $514,000. Swiss National Bank grew 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 acquiring an additional 1,400 shares during the period. Finally, Wells Fargo & Company MN grew 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 acquiring an additional 149,871 shares during the period. Hedge funds and other institutional investors own 49.70% of the company’s stock.

Midland States Bancorp Company Profile

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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