Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $24.50 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price objective dropped by equities research analysts at Piper Sandler from $26.00 to $24.50 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 8.89% from the company’s previous close.

Midland States Bancorp Stock Up 0.6 %

NASDAQ:MSBI opened at $22.50 on Tuesday. The stock’s fifty day simple moving average is $24.05 and its 200-day simple moving average is $24.42. The firm has a market capitalization of $491.63 million, a P/E ratio of 7.65 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.91. Midland States Bancorp has a 12-month low of $17.98 and a 12-month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). The company had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Equities research analysts expect that Midland States Bancorp will post 2.94 earnings per share for the current year.

Institutional Trading of Midland States Bancorp

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Midland States Bancorp by 27.5% in the third 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 during the period. Vanguard Group Inc. grew its position 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 valued at $22,815,000 after purchasing an additional 7,132 shares during the period. American Century Companies Inc. increased 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 worth $4,916,000 after purchasing an additional 24,320 shares in the last quarter. SG Americas Securities LLC raised its holdings in Midland States Bancorp by 89.4% during the 3rd quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock worth $278,000 after buying an additional 6,393 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Midland States Bancorp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after buying an additional 3,154 shares during the period. Institutional investors 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.