Keefe, Bruyette & Woods Lowers Midland States Bancorp (NASDAQ:MSBI) Price Target to $17.00

by · The Markets Daily

Midland States Bancorp (NASDAQ:MSBI – Get Free Report) had its price target decreased by analysts at Keefe, Bruyette & Woods from $20.00 to $17.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 5.13% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Stephens upgraded Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Midland States Bancorp in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $19.25.

View Our Latest Research Report on MSBI

Midland States Bancorp Stock Performance

Midland States Bancorp stock opened at $16.17 on Monday. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $28.08. The company has a market cap of $348.37 million, a PE ratio of -21.00 and a beta of 0.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85. The company has a fifty day moving average price of $17.16 and a two-hundred day moving average price of $17.40.

Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last released its quarterly earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 EPS for the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. The business had revenue of $70.61 million during the quarter. Research analysts expect that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp announced that its Board of Directors has authorized a share repurchase plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC raised its stake in shares of Midland States Bancorp by 110.7% during the third quarter. AlphaQuest LLC now owns 19,017 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 9,990 shares in the last quarter. Federated Hermes Inc. raised its position in Midland States Bancorp by 3.4% in the third quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 1,071 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Midland States Bancorp in the third quarter worth about $232,000. KLP Kapitalforvaltning AS raised its position in Midland States Bancorp by 31.1% in the third quarter. KLP Kapitalforvaltning AS now owns 17,300 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 4,100 shares in the last quarter. Finally, CWM LLC raised its position in Midland States Bancorp by 99.4% in the third quarter. CWM LLC now owns 23,592 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 11,761 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

(Get Free Report)

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.

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