Midland States Bancorp (NASDAQ:MSBI) Downgraded by ValuEngine to Sell

ValuEngine lowered shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a sell rating in a research note released on Monday, ValuEngine reports.

Several other research firms have also commented on MSBI. Zacks Investment Research upgraded Midland States Bancorp from a sell rating to a hold rating in a research note on Wednesday, September 18th. BidaskClub upgraded Midland States Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Midland States Bancorp currently has an average rating of Hold and an average price target of $27.00.

Shares of Midland States Bancorp stock traded up $0.19 on Monday, hitting $26.69. The company’s stock had a trading volume of 885 shares, compared to its average volume of 52,762. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 1.05. Midland States Bancorp has a 1 year low of $19.56 and a 1 year high of $28.38. The firm has a fifty day moving average price of $26.31 and a 200-day moving average price of $26.09. The company has a market capitalization of $650.05 million, a price-to-earnings ratio of 13.11 and a beta of 1.36.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Midland States Bancorp had a return on equity of 10.14% and a net margin of 17.52%. The company had revenue of $65.66 million during the quarter, compared to analyst estimates of $64.90 million. As a group, analysts forecast that Midland States Bancorp will post 2.56 EPS for the current year.

In other news, SVP Jeffrey A. Brunoehler sold 22,178 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $27.00, for a total transaction of $598,806.00. Following the transaction, the senior vice president now directly owns 57,861 shares in the company, valued at approximately $1,562,247. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leon J. Holschbach sold 1,992 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $26.00, for a total value of $51,792.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,195 shares of company stock valued at $1,602,479. 12.70% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of MSBI. Tower Research Capital LLC TRC boosted its holdings in shares of Midland States Bancorp by 63.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,036 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 401 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth approximately $54,000. Bank of Montreal Can boosted its holdings in shares of Midland States Bancorp by 687.3% during the 2nd quarter. Bank of Montreal Can now owns 2,102 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,835 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth approximately $211,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth approximately $216,000. Institutional investors and hedge funds own 47.70% 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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