Midland States Bancorp (NASDAQ:MSBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Midland States Bancorp from a “c+” rating to a “b” rating in a research report on Friday, May 24th. ValuEngine upgraded shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, BidaskClub upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

MSBI stock opened at $25.06 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $604.15 million, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 1.35. Midland States Bancorp has a 1-year low of $19.56 and a 1-year high of $36.06.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Midland States Bancorp had a net margin of 16.69% and a return on equity of 10.06%. The company had revenue of $62.68 million for the quarter, compared to analysts’ expectations of $64.70 million. As a group, sell-side analysts predict that Midland States Bancorp will post 2.58 earnings per share for the current year.

In other Midland States Bancorp news, Director R. Robert Funderburg, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.94, for a total transaction of $249,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry L. Mcdaniel sold 12,663 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $27.01, for a total transaction of $342,027.63. The disclosure for this sale can be found here. Insiders have sold 64,301 shares of company stock worth $1,643,830 over the last quarter. Company insiders own 12.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in shares of Midland States Bancorp during the fourth quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Midland States Bancorp by 23.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,050 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 392 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Midland States Bancorp by 148.6% during the first quarter. Great West Life Assurance Co. Can now owns 3,803 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 2,273 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Midland States Bancorp by 73,150.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,395 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 4,389 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Midland States Bancorp by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 5,534 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

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.

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