The stock of Midland States Bancorp Inc (NASDAQ:MSBI) hit a new 52-week high and has $80.59 target or 194.00% above today’s $27.41 share price. The 6 months bullish chart indicates low risk for the $438.92M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $80.59 price target is reached, the company will be worth $851.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.18% or $0.32 during the last trading session, hitting $27.41. About 55,265 shares traded hands or 92.69% up from the average. Midland States Bancorp Inc (NASDAQ:MSBI) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
Midland States Bancorp Inc (NASDAQ:MSBI) Ratings Coverage
Out of 2 analysts covering Midland States… (NASDAQ:MSBI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Midland States… has been the topic of 2 analyst reports since June 20, 2016 according to StockzIntelligence Inc. Wood initiated it with “Outperform” rating and $26 target price in Monday, June 20 report. The firm has “Buy” rating given on Tuesday, June 21 by DA Davidson.
According to Zacks Investment Research, “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.”
More notable recent Midland States Bancorp Inc (NASDAQ:MSBI) news were published by: Marketwatch.com which released: “Midland States Bancorp Inc.” on August 12, 2011, also Globenewswire.com with their article: “Midland States Bancorp, Inc. Announces 2016 Third Quarter Results” published on October 27, 2016, Globenewswire.com published: “Midland States Bancorp, Inc. Announces Pricing of Initial Public Offering” on May 24, 2016. More interesting news about Midland States Bancorp Inc (NASDAQ:MSBI) were released by: Globenewswire.com and their article: “Midland States Bancorp, Inc. Launches Initial Public Offering” published on May 11, 2016 as well as Globenewswire.com‘s news article titled: “Midland States Bancorp Announces Early Termination of FDIC Loss Share Agreements” with publication date: October 03, 2016.
MSBI Company Profile
Midland States Bancorp, Inc. is a diversified financial holding company. The Company’s banking subsidiary, Midland States Bank (the Bank), has branches across Illinois and in Missouri and Colorado, and provides a range of traditional community banking and other complementary financial services, including commercial lending, residential mortgage origination, wealth management, merchant services and prime consumer lending. The Company’s divisions include Banking, Commercial Federal Housing Administration (FHA) Origination and Servicing, and Other. The Banking segment provides a range of financial services and products to clients and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services. The Commercial FHA Origination and Servicing segment provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities. The Other segment includes the operating results of the Company and its Wealth Management business unit.
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