DA Davidson Has Positive Estimate for MSBI FY2024 Earnings

Midland States Bancorp, Inc. (NASDAQ:MSBI) – DA Davidson increased their FY2024 earnings per share estimates for shares of Midland States Bancorp in a research report issued on Wednesday, October 30th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $2.19 for the year, up from their previous estimate of $1.95. The consensus estimate for Midland States Bancorp’s current full-year earnings is $2.00 per share. DA Davidson also issued estimates for Midland States Bancorp’s Q4 2024 earnings at $0.70 EPS.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the previous year, the company posted $0.78 earnings per share.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Piper Sandler boosted their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $25.05 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. Midland States Bancorp has a twelve month low of $20.54 and a twelve month high of $28.47. The company has a fifty day moving average of $22.58 and a 200-day moving average of $22.75. The firm has a market capitalization of $535.82 million, a P/E ratio of 10.84 and a beta of 0.75.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of Midland States Bancorp in the second quarter valued at about $1,350,000. American Century Companies Inc. increased its stake in Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after buying an additional 55,555 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Midland States Bancorp during the 1st quarter worth approximately $1,106,000. Janney Montgomery Scott LLC purchased a new position in shares of Midland States Bancorp in the 1st quarter worth approximately $581,000. Finally, Squarepoint Ops LLC bought a new position in shares of Midland States Bancorp in the second quarter valued at approximately $248,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Friday, August 16th. Midland States Bancorp’s payout ratio is presently 53.68%.

About Midland States Bancorp

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.