Midland States Bancorp (MSBI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a buy rating in a research report released on Saturday morning. They currently have $38.00 price objective on the financial services provider’s stock.

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. “

MSBI has been the subject of several other research reports. BidaskClub upgraded Midland States Bancorp from a sell rating to a hold rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods restated a buy rating and set a $42.00 target price on shares of Midland States Bancorp in a research note on Thursday, October 19th.

Midland States Bancorp (NASDAQ MSBI) opened at $33.97 on Friday. Midland States Bancorp has a 52-week low of $28.70 and a 52-week high of $36.50. The company has a market capitalization of $654.06, a PE ratio of 22.06, a PEG ratio of 1.86 and a beta of 2.21. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.02 and a current ratio of 1.03.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.09). Midland States Bancorp had a return on equity of 10.22% and a net margin of 11.90%. The company had revenue of $52.17 million for the quarter, compared to analyst estimates of $55.20 million. research analysts predict that Midland States Bancorp will post 1.38 EPS for the current year.

In related news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $32.61, for a total transaction of $65,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 8,000 shares of company stock valued at $257,800. 14.90% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of MSBI. Capital Z Partners Management LLC purchased a new stake in Midland States Bancorp in the second quarter valued at approximately $13,138,000. State Street Corp lifted its stake in Midland States Bancorp by 367.7% in the second quarter. State Street Corp now owns 246,679 shares of the financial services provider’s stock valued at $8,270,000 after buying an additional 193,932 shares during the last quarter. Maltese Capital Management LLC purchased a new stake in Midland States Bancorp in the third quarter valued at approximately $6,019,000. Banc Funds Co. LLC purchased a new stake in Midland States Bancorp in the second quarter valued at approximately $5,903,000. Finally, FMR LLC lifted its stake in Midland States Bancorp by 20.7% in the second quarter. FMR LLC now owns 843,862 shares of the financial services provider’s stock valued at $28,286,000 after buying an additional 144,544 shares during the last quarter. Hedge funds and other institutional investors own 45.61% of the company’s stock.

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About Midland States Bancorp

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