Midland States Bancorp Inc to Issue Quarterly Dividend of $0.22 (MSBI)

Midland States Bancorp Inc (NASDAQ:MSBI) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Monday, November 19th will be paid a dividend of 0.22 per share by the financial services provider on Monday, November 26th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, November 16th.

Midland States Bancorp has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.89 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 30.4%.

Shares of NASDAQ:MSBI opened at $26.57 on Friday. The company has a market cap of $633.31 million, a P/E ratio of 13.35, a P/E/G ratio of 1.56 and a beta of 1.36. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. Midland States Bancorp has a 12-month low of $23.27 and a 12-month high of $36.06.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Friday, October 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $63.35 million during the quarter, compared to the consensus estimate of $66.90 million. Midland States Bancorp had a return on equity of 9.23% and a net margin of 9.27%. On average, sell-side analysts expect that Midland States Bancorp will post 2.45 earnings per share for the current year.

In related news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $34.42, for a total value of $68,840.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sharon A. Schaubert sold 12,338 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $34.04, for a total value of $419,985.52. Following the completion of the transaction, the senior vice president now directly owns 25,007 shares in the company, valued at $851,238.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,160 shares of company stock valued at $837,794. 14.90% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on MSBI shares. Zacks Investment Research upgraded Midland States Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday. BidaskClub downgraded Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, ValuEngine downgraded Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 12th.

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About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

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Dividend History for Midland States Bancorp (NASDAQ:MSBI)

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