The stock of Midland States Bancorp, Inc. (NASDAQ:MSBI) is now priced at $14.43 and the shares are 0.08 points up or 0.52% higher compared to its previous closing price of $14.35. The stock had 99407 contracts set over the past session. MSBI shares’ daily volume is compared to its average trading volume at 126117 shares. However, it has a float of 20.88 million and although its performance was 4.86% over the week, it’s one to watch. Analysts have given the MSBI stock a yearly average price target of $16.63 per share. It means the stock’s upside potential is 15.25% with the MSBI share price recently placing at $13.84 to $14.5. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are climbing into the Midland States Bancorp, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the MSBI shares have risen. Short interest in the stock represents just 3.35% of its float, but the volume has raised by 128246. The volume of shorted shares rised to 699034 from 570788 shares over the last two weeks. The average intraday trading volume has been 110709 shares, which means that days to cover moved to roughly 6.314157.
In the last trading session, Midland States Bancorp, Inc. (NASDAQ:MSBI) raised by $1.33 over the week and lost -$0.24 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $29.5. The stock recorded its established 52-week high on 12/20/19.
Since 05/14/20, the stock has traded to a low of $12.49 at 15.53%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.09. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Midland States Bancorp, Inc.’s two-week RSI is 50.85. This suggests that the stock is neutral at the moment and that MSBI shares’ price movement remains stable. The stochastic readings are equally revealing at 52.7% meaning the MSBI share price is currently in neutral territory.
The technical chart shows that the MSBI stock will likely settle at between $14.62 and $14.89 per share. However, if the stock dips below $13.96, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.57.
Currently, the stock is trading in the green of MACD, with a reading of 0.21. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler cut their recommendation for MSBI from Overweight to Neutral in July 13 review while maintai their target price of $16.50 to $15.50. Stephens analysts downgraded their recommendation of the stock from Overweight to Equal-Weight in a flash note released to investors on April 09.
The average rating for the MSBI equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Midland States Bancorp, Inc. polled by Reuters, 4 rated MSBI as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MSBI stock price is 8.45X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 8.2below the group’s average of 11.1. Midland States Bancorp, Inc. has its P/E ratio at 0.5, which means that the stock is currently trading at a discount relative to the 0.9 industry average.