Midland States Bancorp (MSBI) Upgraded by BidaskClub to “Buy”

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

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Midland States Bancorp from a buy rating to a hold rating in a report on Wednesday, April 10th. ValuEngine downgraded shares of Midland States Bancorp from a sell rating to a strong sell rating in a report on Monday, April 1st. Finally, Stephens reiterated a buy rating and issued a $27.00 target price on shares of Midland States Bancorp in a report on Wednesday, December 19th.

Shares of Midland States Bancorp stock opened at $26.74 on Friday. Midland States Bancorp has a 1-year low of $19.56 and a 1-year 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. The company has a market cap of $637.59 million, a PE ratio of 13.11, a PEG ratio of 1.39 and a beta of 1.33.

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

In other news, Director R. Robert Funderburg, Jr. sold 7,058 shares of Midland States Bancorp 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen A. Erickson sold 2,110 shares of Midland States Bancorp stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.25, for a total transaction of $53,277.50. Following the completion of 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 quarter, insiders sold 88,614 shares of company stock valued at $2,199,539. 12.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in MSBI. Bank of New York Mellon Corp boosted its position in shares of Midland States Bancorp by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 473,052 shares of the financial services provider’s stock valued at $15,185,000 after acquiring an additional 3,044 shares during the period. BlackRock Inc. boosted its position in shares of Midland States Bancorp by 1.5% in the third quarter. BlackRock Inc. now owns 1,354,678 shares of the financial services provider’s stock valued at $43,485,000 after acquiring an additional 19,792 shares during the period. FMR LLC boosted its position in shares of Midland States Bancorp by 0.3% in the third quarter. FMR LLC now owns 1,063,019 shares of the financial services provider’s stock valued at $34,123,000 after acquiring an additional 2,766 shares during the period. Credit Suisse AG lifted its position in Midland States Bancorp by 24.1% during the third quarter. Credit Suisse AG now owns 15,092 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Midland States Bancorp by 29.7% during the third quarter. Dimensional Fund Advisors LP now owns 445,669 shares of the financial services provider’s stock valued at $14,306,000 after purchasing an additional 102,148 shares during the last quarter. Institutional investors own 46.29% 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.

Read More: Resistance Level

Receive News & Ratings for Midland States Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Midland States Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.