Midland States Bancorp (NASDAQ:MSBI) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a sell rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “

A number of other equities analysts also recently weighed in on MSBI. ValuEngine raised Midland States Bancorp from a strong sell rating to a sell rating in a research report on Thursday, April 18th. TheStreet raised Midland States Bancorp from a c+ rating to a b rating in a research report on Friday, May 24th. Finally, BidaskClub raised Midland States Bancorp from a sell rating to a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $27.00.

NASDAQ MSBI traded down $0.05 during trading on Thursday, reaching $26.19. 72,855 shares of the company’s stock were exchanged, compared to its average volume of 59,639. The firm’s 50 day simple moving average is $26.15. The firm has a market capitalization of $631.43 million, a PE ratio of 12.84, a P/E/G ratio of 1.47 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.32. Midland States Bancorp has a fifty-two week low of $19.56 and a fifty-two week high of $35.28.

In other news, Director Leon J. Holschbach sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.20, for a total value of $239,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeffrey A. Brunoehler sold 22,178 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $27.00, for a total value of $598,806.00. Following the completion of the transaction, the senior vice president now directly owns 57,861 shares in the company, valued at approximately $1,562,247. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,678 shares of company stock worth $1,345,601. Company insiders own 12.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of MSBI. Kennedy Capital Management Inc. acquired a new position in shares of Midland States Bancorp in the first quarter valued at approximately $3,609,000. Dimensional Fund Advisors LP grew its position in shares of Midland States Bancorp by 25.6% in 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. grew its position in shares of Midland States Bancorp by 115.4% in 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. Quantum Capital Management grew its position in shares of Midland States Bancorp by 69.9% in 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. Finally, BlackRock Inc. grew its position in shares of Midland States Bancorp by 2.8% in the fourth quarter. BlackRock Inc. now owns 1,392,525 shares of the financial services provider’s stock valued at $31,109,000 after purchasing an additional 37,847 shares during the last quarter. 47.43% of the stock is currently owned by 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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