Midland States Bancorp, Inc. (NASDAQ:MSBI) to Issue $0.31 Quarterly Dividend

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced 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 payment by an average of 3.9% per year over the last three years. Midland States Bancorp has a payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

MSBI stock traded down $0.01 during mid-day trading on Friday, reaching $26.48. The company’s stock had a trading volume of 81,762 shares, compared to its average volume of 90,835. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company’s 50 day moving average is $23.07 and its two-hundred day moving average is $22.89. Midland States Bancorp has a fifty-two week low of $20.54 and a fifty-two week high of $28.47. The stock has a market cap of $566.41 million, a PE ratio of 11.46 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results 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. The firm had revenue of $124.17 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.78 earnings per share. Equities research analysts expect that Midland States Bancorp will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Midland States Bancorp 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 completion of the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Midland States Bancorp Company Profile

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.