Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $27.00 by Analysts at Stephens

Midland States Bancorp (NASDAQ:MSBI) had its price target dropped by Stephens from $29.00 to $27.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 17.44% from the stock’s previous close.

Several other analysts also recently commented on the stock. Piper Sandler reduced their price objective on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.63.

Midland States Bancorp Price Performance

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

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.53 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 the consensus estimate of $75.05 million. During the same quarter in the previous year, the company earned $0.88 EPS. On average, analysts expect that Midland States Bancorp will post 2.94 earnings per share for the current year.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently bought and sold shares of MSBI. Dimensional Fund Advisors LP raised its holdings in 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 7,132 shares during the last quarter. AQR Capital Management LLC lifted its position 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 valued at $5,147,000 after acquiring an additional 54,090 shares in the last quarter. American Century Companies Inc. boosted its stake in Midland States Bancorp by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after purchasing an additional 24,320 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Midland States Bancorp by 1.7% during 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 purchasing an additional 3,154 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.