Midland States Bancorp (NASDAQ:MSBI) Posts Earnings Results, Beats Estimates By $0.06 EPS

Midland States Bancorp (NASDAQ:MSBI) issued its quarterly earnings data on Thursday. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06, FiscalAI reports. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. The company had revenue of $86.14 million during the quarter, compared to the consensus estimate of $83.77 million.

Midland States Bancorp Stock Performance

MSBI traded up $0.37 during midday trading on Thursday, reaching $32.96. The company had a trading volume of 131,349 shares, compared to its average volume of 161,871. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $683.92 million, a PE ratio of 21.13 and a beta of 0.66. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $35.10. The business has a 50-day moving average price of $32.90 and a two-hundred day moving average price of $30.21.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a $0.33 dividend. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Midland States Bancorp’s payout ratio is presently 84.62%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. DA Davidson raised their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Piper Sandler lifted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.12.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey Ludwig sold 8,383 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares in the company, valued at approximately $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kyle Mooney sold 2,400 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the transaction, the chief operating officer owned 13,610 shares of the company’s stock, valued at $453,621.30. This represents a 14.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,470 shares of company stock worth $421,374. Corporate insiders own 8.57% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.