Midland States Bancorp, Inc. (MSBI) To Go Ex-Dividend on May 16th

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 17th will be paid 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 yield of 5.20%. The ex-dividend date of this dividend 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 increased its dividend annually for the last 8 consecutive years. Midland States Bancorp has a dividend payout ratio of 40.9% 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 Stock Performance

Shares of MSBI stock traded up $0.24 during trading hours on Thursday, hitting $23.83. The company’s stock had a trading volume of 15,156 shares, compared to its average volume of 60,293. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $23.91 and a 200 day moving average of $24.52. Midland States Bancorp has a 12-month low of $18.54 and a 12-month high of $28.47. The stock has a market cap of $520.69 million, a PE ratio of 8.07 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The company had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. During the same period in the prior year, the business posted $0.88 earnings per share. On average, sell-side analysts forecast that Midland States Bancorp will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MSBI. Keefe, Bruyette & Woods dropped their price objective on 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. Piper Sandler reduced their price target 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, Stephens lowered their price objective on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.63.

Insider Buying and Selling at Midland States Bancorp

In related news, SVP Douglas J. Tucker sold 3,577 shares of Midland States Bancorp stock in a transaction that occurred on 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 transaction, the senior vice president now owns 32,871 shares in the company, valued at $788,904. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

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.