Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $24.50

Midland States Bancorp (NASDAQ:MSBI) had its price objective decreased by stock analysts at Piper Sandler from $26.00 to $24.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 6.57% from the stock’s previous close.

Midland States Bancorp Stock Up 5.0 %

Shares of NASDAQ MSBI opened at $22.99 on Tuesday. The firm’s 50-day moving average price is $23.96 and its 200-day moving average price is $24.42. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $502.33 million, a price-to-earnings ratio of 7.82 and a beta of 0.77. Midland States Bancorp has a 12-month low of $17.98 and a 12-month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. The business had revenue of $122.86 million for the quarter, compared to analysts’ expectations of $75.05 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, equities research analysts anticipate that Midland States Bancorp will post 2.94 EPS for the current fiscal year.

Institutional Trading of Midland States Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Midland States Bancorp by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock worth $37,811,000 after purchasing an additional 37,813 shares during the period. Vanguard Group Inc. raised its position in Midland States Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock worth $22,815,000 after purchasing an additional 7,132 shares during the period. AQR Capital Management LLC grew its stake in Midland States Bancorp by 27.5% in the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after acquiring an additional 54,090 shares in the last quarter. American Century Companies Inc. grew its stake in Midland States Bancorp by 11.3% in the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock worth $4,916,000 after acquiring an additional 24,320 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Midland States Bancorp by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock worth $3,826,000 after acquiring an additional 3,154 shares in the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.