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

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.31 per share by the financial services provider on Monday, November 25th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, November 18th.

Midland States Bancorp has increased its dividend by an average of 3.9% annually over the last three years. Midland States Bancorp has a payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.78 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 44.6%.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock traded down $0.01 on Friday, reaching $26.48. 81,762 shares of the stock were exchanged, compared to its average volume of 90,835. Midland States Bancorp has a twelve month low of $20.54 and a twelve month high of $28.47. The business has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $22.89. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $566.41 million, a price-to-earnings ratio of 11.46 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. The business had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same period in the prior year, the firm earned $0.78 EPS. Analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MSBI. Keefe, Bruyette & Woods cut their price target on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Sandler boosted their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by corporate insiders.

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.