Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $26.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective decreased by Keefe, Bruyette & Woods from $28.00 to $26.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 13.09% from the company’s previous close.

Separately, Piper Sandler cut their price target on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research note on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp has a consensus rating of “Hold” and an average target price of $25.63.

Midland States Bancorp Stock Up 5.0 %

NASDAQ MSBI opened at $22.99 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $24.42. Midland States Bancorp has a twelve month low of $17.98 and a twelve month high of $28.47. The stock has a market cap of $502.33 million, a PE ratio of 7.82 and a beta of 0.77.

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

Institutional Trading of Midland States Bancorp

Several hedge funds have recently modified their holdings of MSBI. Hennessy Advisors Inc. acquired a new stake in shares of Midland States Bancorp during the fourth quarter worth approximately $3,032,000. Midland Wealth Advisors LLC acquired a new stake in shares of Midland States Bancorp during the fourth quarter worth approximately $1,573,000. AQR Capital Management LLC increased its holdings in shares of Midland States Bancorp by 27.5% during the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after buying an additional 54,090 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Midland States Bancorp by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock worth $37,811,000 after buying an additional 37,813 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in shares of Midland States Bancorp by 48.1% during the first quarter. Accurate Wealth Management LLC now owns 105,286 shares of the financial services provider’s stock worth $2,502,000 after buying an additional 34,191 shares in the last quarter. Institutional investors and hedge funds own 60.93% 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, 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.