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

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.31 per share by the financial services provider on Friday, August 23rd. This represents a $1.24 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, August 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 46.6% indicating that 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 Stock Up 0.8 %

Midland States Bancorp stock opened at $21.05 on Wednesday. The stock has a market cap of $452.20 million, a P/E ratio of 7.16 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59. Midland States Bancorp has a twelve month low of $19.85 and a twelve month high of $28.47. The company’s 50-day moving average price is $22.73 and its two-hundred day moving average price is $23.59.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52). Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. The business had revenue of $120.95 million for the quarter, compared to analyst estimates of $74.90 million. During the same quarter in the previous year, the company earned $0.87 EPS. As a group, analysts expect that Midland States Bancorp will post 2.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey M. Mcdonnell purchased 2,290 shares of Midland States Bancorp stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the acquisition, the director now owns 24,245 shares of the company’s stock, valued at approximately $528,541. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Midland States Bancorp news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of Midland States Bancorp stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the acquisition, the director now directly owns 24,245 shares of the company’s stock, valued at $528,541. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Donald J. Spring sold 1,197 shares of Midland States Bancorp stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total transaction of $26,334.00. Following the transaction, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at $264,330. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

MSBI has been the topic of several analyst reports. Piper Sandler increased their price target on shares of Midland States Bancorp from $24.50 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Stephens cut their target price on shares of 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th.

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.