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

Midland States Bancorp, Inc. (NASDAQ:MSBIGet Free Report) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 17th will be given 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 dividend 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 raised its dividend every year for the last 8 years. Midland States Bancorp has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.3 %

MSBI traded up $0.08 on Wednesday, hitting $23.83. The company had a trading volume of 3,281 shares, compared to its average volume of 60,338. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.96. Midland States Bancorp has a 52-week low of $18.68 and a 52-week high of $28.47. The stock has a fifty day simple moving average of $23.88 and a 200-day simple moving average of $24.64. The firm has a market capitalization of $511.87 million, a P/E ratio of 8.08 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBIGet Free Report) last released its 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). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.50%. The business had revenue of $122.86 million for the quarter, compared to analysts’ expectations of $75.05 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, equities analysts expect that Midland States Bancorp will post 2.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on Midland States Bancorp

Insiders Place Their Bets

In other news, SVP Douglas J. Tucker sold 3,577 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 32,871 shares in the company, valued at $788,904. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Midland States Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Midland States Bancorp (NASDAQ:MSBI)

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