Midland States Bancorp (NASDAQ:MSBI) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research report report published on Friday morning, BidAskClub reports.

A number of other brokerages have also weighed in on MSBI. TheStreet upgraded shares of Midland States Bancorp from a c+ rating to a b rating in a research report on Friday, May 24th. Zacks Investment Research lowered shares of Midland States Bancorp from a buy rating to a hold rating in a research report on Wednesday, April 10th. Finally, ValuEngine lowered shares of Midland States Bancorp from a sell rating to a strong sell rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $27.00.

Shares of NASDAQ:MSBI opened at $25.90 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $623.23 million, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. Midland States Bancorp has a twelve month low of $19.56 and a twelve month high of $36.06.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $62.68 million during the quarter, compared to analyst estimates of $64.70 million. Midland States Bancorp had a net margin of 16.69% and a return on equity of 10.06%. Analysts predict that Midland States Bancorp will post 2.58 EPS for the current fiscal year.

In other news, Director Leon J. Holschbach sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $25.20, for a total value of $239,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. Robert Funderburg, Jr. sold 7,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $26.67, for a total transaction of $188,236.86. The disclosure for this sale can be found here. Insiders sold 48,221 shares of company stock valued at $1,242,004 over the last 90 days. 12.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in MSBI. Kennedy Capital Management Inc. bought a new position in shares of Midland States Bancorp in the first quarter valued at approximately $3,609,000. Shoals Capital Management LP bought a new stake in Midland States Bancorp during the fourth quarter valued at approximately $2,683,000. Dimensional Fund Advisors LP lifted its position in Midland States Bancorp by 25.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 559,834 shares of the financial services provider’s stock valued at $12,507,000 after purchasing an additional 114,165 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Midland States Bancorp by 115.4% during the first quarter. Hennessy Advisors Inc. now owns 140,000 shares of the financial services provider’s stock valued at $3,368,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Quantum Capital Management lifted its position in Midland States Bancorp by 69.9% during the first quarter. Quantum Capital Management now owns 177,177 shares of the financial services provider’s stock valued at $4,263,000 after purchasing an additional 72,875 shares during the last quarter. Institutional investors own 47.56% 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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