BidaskClub Downgrades Midland States Bancorp (NASDAQ:MSBI) to Sell

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Midland States Bancorp (NASDAQ:MSBI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other brokerages have also commented on MSBI. DA Davidson reiterated a “buy” rating on shares of Midland States Bancorp in a report on Monday, November 18th. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, ValuEngine cut shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

Shares of NASDAQ:MSBI traded up $0.11 during trading on Tuesday, reaching $28.70. The stock had a trading volume of 768 shares, compared to its average volume of 51,676. Midland States Bancorp has a 52 week low of $22.61 and a 52 week high of $29.50. The firm has a market capitalization of $697.76 million, a price-to-earnings ratio of 14.09 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $27.02.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.13). Midland States Bancorp had a return on equity of 10.01% and a net margin of 18.30%. The firm had revenue of $69.06 million during the quarter. On average, analysts forecast that Midland States Bancorp will post 2.49 EPS for the current year.

In related news, Director Leon J. Holschbach sold 9,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.65, for a total value of $272,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas J. Tucker sold 2,552 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.42, for a total transaction of $72,527.84. Following the completion of the sale, the senior vice president now owns 31,025 shares of the company’s stock, valued at approximately $881,730.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,622 shares of company stock valued at $3,341,842. 12.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at approximately $211,000. Zebra Capital Management LLC grew its position in Midland States Bancorp by 32.0% in the third quarter. Zebra Capital Management LLC now owns 14,622 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 3,543 shares during the period. First Trust Advisors LP grew its position in Midland States Bancorp by 13.3% in the third quarter. First Trust Advisors LP now owns 61,455 shares of the financial services provider’s stock valued at $1,601,000 after acquiring an additional 7,194 shares during the period. California State Teachers Retirement System raised its stake in Midland States Bancorp by 2.5% during the third quarter. California State Teachers Retirement System now owns 34,180 shares of the financial services provider’s stock worth $890,000 after acquiring an additional 824 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Midland States Bancorp by 38.0% during the third quarter. Squarepoint Ops LLC now owns 15,520 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 4,273 shares in the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.

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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