Midland States Bancorp, Inc. Declares 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. Shareholders 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 dividend on an annualized basis and a 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% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Midland States Bancorp has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

MSBI traded up $0.08 during trading on Wednesday, hitting $23.83. The company’s stock had a trading volume of 3,281 shares, compared to its average volume of 60,338. Midland States Bancorp has a 12 month low of $18.68 and a 12 month high of $28.47. The firm’s 50 day moving average price is $23.88 and its two-hundred day moving average price is $24.64. The stock has a market capitalization of $511.87 million, a price-to-earnings ratio of 8.08 and a beta of 0.79. The company has a quick ratio of 0.96, a current ratio of 0.92 and a debt-to-equity ratio of 0.59.

Midland States Bancorp (NASDAQ:MSBIGet Free Report) last announced its quarterly 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). The business had revenue of $122.86 million during the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a return on equity of 11.50% and a net margin of 15.17%. During the same quarter last year, the company earned $0.88 earnings per share. Sell-side analysts forecast that Midland States Bancorp will post 2.76 earnings per share for the current fiscal year.

Insider Activity at Midland States Bancorp

In other news, SVP Douglas J. Tucker sold 3,577 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $24.00, for a total value of $85,848.00. Following the completion of the sale, the senior vice president now owns 32,871 shares of the company’s stock, valued at $788,904. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MSBI. Piper Sandler lowered their price target on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Finally, Stephens lowered their price target on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.63.

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Midland States Bancorp Company Profile

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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.

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Dividend History for Midland States Bancorp (NASDAQ:MSBI)

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