Stock Mover of The Day: Could Midland States Bancorp Inc Change Direction After Achieving All Time High?

Stock Mover of The Day: Could Midland States Bancorp Inc Change Direction After Achieving All Time High?

The stock of Midland States Bancorp Inc (NASDAQ:MSBI) reached all time high today, Oct, 7 and still has $66.40 target or 161.00% above today’s $25.44 share price. This indicates more upside for the $385.64 million company. This technical setup was reported by Barchart.com. If the $66.40 PT is reached, the company will be worth $620.88M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 18,671 shares traded hands. Midland States Bancorp Inc (NASDAQ:MSBI) has risen 6.00% since September 7, 2016 and is uptrending. It has underperformed by 2.04% the S&P500.

Analysts await Midland States Bancorp Inc (NASDAQ:MSBI) to report earnings on October, 27. MSBI’s profit will be $10.16 million for 9.49 P/E if the $0.67 EPS becomes a reality. After $0.50 actual earnings per share reported by Midland States Bancorp Inc for the previous quarter, Wall Street now forecasts 34.00% EPS growth.

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. On Tuesday, June 21 the stock rating was initiated by DA Davidson with “Buy”. The stock of Midland States Bancorp Inc (NASDAQ:MSBI) has “Outperform” rating given on Monday, June 20 by Wood.

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: Globenewswire.com which released: “Midland States Bancorp, Inc. (NASDAQ: MSBI) to Ring the Nasdaq Stock Market …” on October 04, 2016, also Marketwatch.com with their article: “Midland States Bancorp Inc.” published on August 12, 2011, Nasdaq.com published: “Midland States Bancorp Announces Early Termination of FDIC Loss Share Agreements” on October 03, 2016. More interesting news about Midland States Bancorp Inc (NASDAQ:MSBI) were released by: Globenewswire.com and their article: “Midland States Bancorp, Inc. Announces Pricing of Initial Public Offering” published on May 24, 2016 as well as Globenewswire.com‘s news article titled: “Midland States Bancorp, Inc. Launches Initial Public Offering” with publication date: May 11, 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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