Midland States Bancorp (NASDAQ:MSBI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a hold rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “

A number of other analysts also recently commented on the stock. TheStreet upgraded shares of Midland States Bancorp from a c+ rating to a b rating in a research report on Friday, May 24th. BidaskClub upgraded shares of Midland States Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $27.00.

Shares of NASDAQ:MSBI opened at $26.26 on Friday. The company has a market cap of $639.77 million, a PE ratio of 12.87, a P/E/G ratio of 1.48 and a beta of 1.35. The company’s 50-day moving average price is $26.11 and its 200 day moving average price is $25.61. Midland States Bancorp has a fifty-two week low of $19.56 and a fifty-two week high of $35.28. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.15.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Midland States Bancorp had a net margin of 17.52% and a return on equity of 10.14%. The firm had revenue of $65.66 million for the quarter, compared to the consensus estimate of $64.90 million. As a group, equities analysts anticipate that Midland States Bancorp will post 2.54 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.243 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.70%. Midland States Bancorp’s dividend payout ratio (DPR) is 47.55%.

In other Midland States Bancorp news, Director Leon J. Holschbach sold 9,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.74, for a total transaction of $254,030.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephen A. Erickson sold 3,500 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $26.01, for a total transaction of $91,035.00. Following the sale, the chief financial officer now owns 14,628 shares in the company, valued at $380,474.28. The disclosure for this sale can be found here. Insiders have sold a total of 54,178 shares of company stock worth $1,436,636 over the last 90 days. 12.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC raised its position in shares of Midland States Bancorp by 36.9% during the 2nd quarter. Ridgewood Investments LLC now owns 13,160 shares of the financial services provider’s stock worth $352,000 after buying an additional 3,546 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Midland States Bancorp by 73,150.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,395 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 4,389 shares in the last quarter. Strs Ohio bought a new stake in shares of Midland States Bancorp in the 2nd quarter worth approximately $574,000. Kennedy Capital Management Inc. bought a new stake in shares of Midland States Bancorp in the 1st quarter worth approximately $3,609,000. Finally, Millennium Management LLC bought a new stake in shares of Midland States Bancorp in the 4th quarter worth approximately $523,000. Institutional investors own 48.00% 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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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