Midland States Bancorp, Inc. (NASDAQ:MSBI) Announces $0.31 Quarterly Dividend

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.31 per share by the financial services provider on Friday, May 24th. This represents a $1.24 annualized dividend and a yield of 5.20%. The ex-dividend date is Thursday, May 16th.

Midland States Bancorp has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend every year for the last 8 years. Midland States Bancorp has a dividend payout ratio of 40.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 40.9%.

Midland States Bancorp Price Performance

Shares of MSBI traded up $0.24 during mid-day trading on Thursday, hitting $23.83. 15,156 shares of the company traded hands, compared to its average volume of 60,293. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average of $23.91 and a 200 day moving average of $24.52. Midland States Bancorp has a one year low of $18.54 and a one year high of $28.47. The stock has a market capitalization of $520.69 million, a price-to-earnings ratio of 8.07 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). The firm had revenue of $122.86 million during the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, equities analysts expect that Midland States Bancorp will post 2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stephens lowered their target price on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, Piper Sandler reduced their price target on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.63.

Insider Activity

In other Midland States Bancorp news, SVP Douglas J. Tucker sold 3,577 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the sale, the senior vice president now owns 32,871 shares in the company, valued at approximately $788,904. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Midland States Bancorp Company Profile

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.