Midland States Bancorp (NASDAQ:MSBI) Rating Lowered to “Hold” at StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Trading Down 20.0 %

Shares of Midland States Bancorp stock traded down $5.00 on Friday, hitting $20.00. The stock had a trading volume of 586,275 shares, compared to its average volume of 110,104. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp has a one year low of $19.75 and a one year high of $28.10. The stock’s 50-day simple moving average is $25.24 and its two-hundred day simple moving average is $23.92. The stock has a market cap of $428 million, a price-to-earnings ratio of 8.66 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, sell-side analysts predict that Midland States Bancorp will post 2.16 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. grew its stake in shares of Midland States Bancorp by 31.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after buying an additional 21,416 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Midland States Bancorp by 51.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 9,953 shares in the last quarter. Barclays PLC grew its stake in shares of Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 23,242 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after acquiring an additional 37,889 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Midland States Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after purchasing an additional 2,294 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

About Midland States Bancorp

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.