Midland States Bancorp Inc (MSBI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Midland States Bancorp Inc (NASDAQ:MSBI) from a strong-buy rating to a hold rating in a research report report published on Thursday.

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 the stock. Keefe, Bruyette & Woods initiated coverage on shares of Midland States Bancorp in a research note on Monday, June 20th. They set an outperform rating and a $26.00 target price for the company. DA Davidson initiated coverage on shares of Midland States Bancorp in a research note on Tuesday, June 21st. They set a buy rating and a $28.00 target price for the company.

Midland States Bancorp (NASDAQ:MSBI) opened at 25.17 on Thursday. The company has a market cap of $387.64 million and a price-to-earnings ratio of 13.77. The stock’s 50 day moving average price is $24.49 and its 200-day moving average price is $23.07. Midland States Bancorp has a 52 week low of $20.80 and a 52 week high of $25.50.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Friday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.06. On average, equities research analysts forecast that Midland States Bancorp will post $2.06 earnings per share for the current fiscal year.

About Midland States Bancorp

Midland States Bancorp, Inc is a United States-based diversified financial holding company. The Company’s banking subsidiary, Midland States Bank, provides a range of traditional community banking and other complementary financial services. Its segments include Banking, Commercial Federal Housing Administration (FHA) Origination and Servicing, and Other.

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