Brokerages Expect Midland States Bancorp Inc (MSBI) to Post $0.67 EPS

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $29.50 for the company and are forecasting that the company will post $0.67 EPS for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 200 out of 255 based on the ratings given to its competitors.

Several brokerages have recently commented on MSBI. Zacks Investment Research cut shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. ValuEngine cut shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. BidaskClub upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Stephens restated a “buy” rating and set a $27.00 price objective on shares of Midland States Bancorp in a report on Wednesday, December 19th.

In related news, Director Leon J. Holschbach sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.86, for a total transaction of $472,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen A. Erickson sold 2,110 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.25, for a total transaction of $53,277.50. Following the transaction, the chief financial officer now owns 13,063 shares of the company’s stock, valued at approximately $329,840.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,614 shares of company stock valued at $2,199,539. Corporate insiders own 12.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new position in Midland States Bancorp in the fourth quarter valued at approximately $36,000. Metropolitan Life Insurance Co. NY lifted its stake in Midland States Bancorp by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock valued at $158,000 after buying an additional 5,534 shares in the last quarter. Citigroup Inc. lifted its stake in Midland States Bancorp by 22.6% in the fourth quarter. Citigroup Inc. now owns 9,258 shares of the financial services provider’s stock valued at $207,000 after buying an additional 1,709 shares in the last quarter. GSA Capital Partners LLP bought a new position in Midland States Bancorp in the fourth quarter valued at approximately $211,000. Finally, PL Capital Advisors LLC bought a new position in Midland States Bancorp in the fourth quarter valued at approximately $223,000. 46.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:MSBI traded up $0.05 during trading on Wednesday, hitting $26.79. 24,841 shares of the company’s stock were exchanged, compared to its average volume of 60,593. Midland States Bancorp has a 1-year low of $19.56 and a 1-year high of $36.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $649.25 million, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.37 and a beta of 1.33.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. Midland States Bancorp had a net margin of 13.33% and a return on equity of 9.76%. The company had revenue of $69.71 million during the quarter, compared to analysts’ expectations of $64.50 million. Equities research analysts anticipate that Midland States Bancorp will post 2.73 earnings per share for the current year.

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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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