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Midland States Bancorp Inc (NASDAQ:MSBI) stock has reached a 52-week low, dipping to $18.5 as the banking sector faces headwinds. Despite the challenging environment, the bank maintains a notable 6.55% dividend yield and has raised its dividend for 9 consecutive years, according to InvestingPro data. This price level reflects a significant downturn from the previous year, with the company’s stock experiencing a 1-year change of -23.54%. Investors are closely monitoring MSBI as it navigates through the current economic landscape, which has been marked by rising interest rates and regulatory pressures. The 52-week low serves as a critical point for the company, as market participants consider the potential for a rebound or further declines in the stock’s value. Analyst forecasts remain cautious, with price targets ranging from $21 to $23, though InvestingPro analysis suggests the stock may be overvalued at current levels. For deeper insights and additional financial metrics, investors can access 8 more exclusive ProTips on the platform.
In other recent news, Midland States Bancorp announced the retirement of Douglas J. Tucker from his position as Senior Vice President and Corporate Counsel, effective January 3, 2025. The company filed an 8-K with the Securities and Exchange Commission to report this change but did not disclose a successor or the reasons behind Tucker’s retirement. In a separate development, Piper Sandler analyst Nathan Race adjusted the price target for Midland States Bancorp shares to $23.00 from $28.00, maintaining a Neutral rating. This decision follows the company’s challenging fourth-quarter choices that led to increased net charge-offs and loan loss provisions. Despite these difficulties, the analyst expressed optimism about the potential for improved long-term franchise value. Race also revised the earnings per share estimates for 2025 and 2026, lowering them to $2.58 and $2.85, respectively. This adjustment reflects a smaller loan portfolio and higher operating expenses. Piper Sandler remains cautious, citing limited visibility on the bank’s profitability compared to its peers.
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