Midland States Bancorp (NASDAQ:MSBI) Reaches New 12-Month High at $28.61

Midland States Bancorp Inc (NASDAQ:MSBI) hit a new 52-week high during trading on Friday . The stock traded as high as $28.61 and last traded at $28.39, with a volume of 11298 shares traded. The stock had previously closed at $28.01.

MSBI has been the topic of several research analyst reports. BidaskClub upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 23rd. DA Davidson reiterated a “buy” rating on shares of Midland States Bancorp in a research report on Monday, November 18th. Finally, ValuEngine cut shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.00.

The firm’s 50-day moving average is $27.47 and its 200-day moving average is $26.35. The company has a market capitalization of $689.27 million, a PE ratio of 13.92 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.25.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Friday, October 25th. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.13). Midland States Bancorp had a net margin of 18.30% and a return on equity of 10.01%. The firm had revenue of $69.06 million during the quarter. As a group, equities research analysts predict that Midland States Bancorp Inc will post 2.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, November 15th. Midland States Bancorp’s payout ratio is currently 47.55%.

In related news, Director Leon J. Holschbach sold 8,766 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $26.59, for a total value of $233,087.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas J. Tucker sold 5,899 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $28.19, for a total value of $166,292.81. Insiders sold a total of 108,658 shares of company stock valued at $2,994,756 over the last quarter. Company insiders own 12.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Midland States Bancorp by 63.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,036 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 401 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Midland States Bancorp during the second quarter worth approximately $54,000. Bank of Montreal Can lifted its holdings in shares of Midland States Bancorp by 687.3% in the 2nd quarter. Bank of Montreal Can now owns 2,102 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,835 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Midland States Bancorp in the 2nd quarter worth approximately $211,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Midland States Bancorp in the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 48.76% of the company’s stock.

Midland States Bancorp Company Profile (NASDAQ:MSBI)

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.

Further Reading: Cost of Equity For A Business, Investors

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.