Midland States Bancorp (NASDAQ:MSBI) Issues Earnings Results

Midland States Bancorp (NASDAQ:MSBI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.17), FiscalAI reports. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%.The business had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million.

Midland States Bancorp Stock Up 1.6%

Shares of MSBI opened at $24.11 on Friday. The company has a market capitalization of $519.57 million, a price-to-earnings ratio of -18.98 and a beta of 0.66. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $25.05. The stock’s 50-day moving average price is $20.03 and its 200-day moving average price is $18.30. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, November 14th. Midland States Bancorp’s payout ratio is -100.79%.

Midland States Bancorp declared that its Board of Directors has initiated a stock buyback plan on Monday, November 3rd that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MSBI shares. Keefe, Bruyette & Woods increased their price objective on shares of Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Zacks Research raised shares of Midland States Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Wall Street Zen lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Piper Sandler raised their target price on Midland States Bancorp from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Midland States Bancorp has an average rating of “Reduce” and a consensus target price of $20.00.

Insider Activity at Midland States Bancorp

In related news, insider Daniel Edward Casey purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $17.89 per share, with a total value of $89,450.00. Following the completion of the acquisition, the insider owned 28,254 shares of the company’s stock, valued at $505,464.06. The trade was a 21.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Andrew Jameson acquired 5,598 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average cost of $17.69 per share, for a total transaction of $99,028.62. Following the purchase, the executive vice president directly owned 63,412 shares in the company, valued at approximately $1,121,758.28. This trade represents a 9.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 11,098 shares of company stock valued at $197,324. 5.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MSBI. Qube Research & Technologies Ltd acquired a new stake in shares of Midland States Bancorp in the second quarter valued at about $693,000. Federated Hermes Inc. lifted its stake in Midland States Bancorp by 25.4% in the 2nd quarter. Federated Hermes Inc. now owns 31,719 shares of the financial services provider’s stock valued at $549,000 after buying an additional 6,419 shares in the last quarter. Jump Financial LLC lifted its stake in Midland States Bancorp by 272.5% in the 2nd quarter. Jump Financial LLC now owns 55,500 shares of the financial services provider’s stock valued at $961,000 after buying an additional 40,600 shares in the last quarter. Marshall Wace LLP acquired a new stake in Midland States Bancorp in the 2nd quarter worth about $441,000. Finally, Walleye Capital LLC purchased a new stake in Midland States Bancorp during the 2nd quarter worth approximately $462,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.