Midland States Bancorp (MSBI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a strong sell rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

Other equities analysts have also issued reports about the company. Stephens reiterated a buy rating and issued a $27.00 target price on shares of Midland States Bancorp in a research note on Wednesday, December 19th. Zacks Investment Research upgraded Midland States Bancorp from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Wednesday, April 3rd. Finally, BidaskClub upgraded Midland States Bancorp from a hold rating to a buy rating in a research note on Saturday, April 13th.

Midland States Bancorp stock opened at $26.43 on Thursday. The firm has a market capitalization of $641.77 million, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.38 and a beta of 1.33. 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 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The firm had revenue of $69.71 million during the quarter, compared to analyst estimates of $64.50 million. Midland States Bancorp had a return on equity of 9.76% and a net margin of 13.33%. Research analysts predict that Midland States Bancorp will post 2.73 EPS for the current year.

In other Midland States Bancorp news, Director R. Robert Funderburg, Jr. sold 17,058 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $25.60, for a total transaction of $436,684.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R. Robert Funderburg, Jr. sold 7,058 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $24.06, for a total value of $169,815.48. The disclosure for this sale can be found here. Insiders sold 88,614 shares of company stock valued at $2,199,539 over the last quarter. Insiders own 12.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MSBI. Shoals Capital Management LP purchased a new stake in Midland States Bancorp during the fourth quarter valued at about $2,683,000. Dimensional Fund Advisors LP grew 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 acquiring an additional 114,165 shares during the period. Hennessy Advisors Inc. grew 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 acquiring an additional 75,000 shares during the period. Quantum Capital Management grew its position in Midland States Bancorp by 113.2% during the fourth quarter. Quantum Capital Management now owns 104,302 shares of the financial services provider’s stock valued at $2,330,000 after acquiring an additional 55,388 shares during the period. Finally, BlackRock Inc. grew its position in Midland States Bancorp by 2.8% during the fourth quarter. BlackRock Inc. now owns 1,392,525 shares of the financial services provider’s stock valued at $31,109,000 after acquiring an additional 37,847 shares during the period. 46.29% 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 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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