Midland States Bancorp Inc (NASDAQ:MSBI) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a one year consensus price target of $29.00 for the company and are anticipating that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 146 out of 255 based on the ratings given to related companies.
A number of research firms have issued reports on MSBI. ValuEngine lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, November 7th. Stephens reissued a “buy” rating and set a $27.00 price target on shares of Midland States Bancorp in a research report on Wednesday, December 19th. Finally, BidaskClub raised shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th.
MSBI stock opened at $24.30 on Friday. Midland States Bancorp has a 52 week low of $19.56 and a 52 week high of $36.06. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $578.75 million, a P/E ratio of 11.91, a P/E/G ratio of 1.31 and a beta of 1.32.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Midland States Bancorp had a net margin of 13.33% and a return on equity of 9.84%. The company had revenue of $69.71 million during the quarter, compared to analyst estimates of $64.50 million. As a group, equities research analysts forecast that Midland States Bancorp will post 2.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 15th will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Thursday, February 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a yield of 3.99%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 43.14%.
In other news, Director R. Robert Funderburg, Jr. sold 12,500 shares of Midland States Bancorp stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $24.28, for a total transaction of $303,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R. Robert Funderburg, Jr. sold 7,058 shares of Midland States Bancorp stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $24.06, for a total transaction of $169,815.48. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 5,428 shares of company stock valued at $123,553 and have sold 74,616 shares valued at $1,787,814. Company insiders own 9.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in shares of Midland States Bancorp during the 4th quarter valued at approximately $36,000. PL Capital Advisors LLC purchased a new position in shares of Midland States Bancorp during the 4th quarter valued at approximately $223,000. Associated Banc Corp purchased a new position in shares of Midland States Bancorp during the 3rd quarter valued at approximately $331,000. Credit Suisse AG increased its holdings in shares of Midland States Bancorp by 24.1% during the 3rd quarter. Credit Suisse AG now owns 15,092 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 2,931 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in shares of Midland States Bancorp by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 15,568 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 5,534 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.
About Midland States Bancorp
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.
Featured Story: Federal Reserve
Get a free copy of the Zacks research report on Midland States Bancorp (MSBI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com