Midland States Bancorp (NASDAQ:MSBI) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Midland States Bancorp (NASDAQ:MSBI) released its quarterly earnings data on Thursday. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04, FiscalAI reports. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. The company had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $30.97 on Friday. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $31.82. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $29.43 and a 200-day moving average price of $25.40. The company has a market cap of $642.01 million, a PE ratio of 26.25 and a beta of 0.66.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.1%. Midland States Bancorp’s payout ratio is 108.47%.

Midland States Bancorp announced that its Board of Directors has approved a share repurchase program on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Travis Franklin purchased 9,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the acquisition, the director owned 9,400 shares of the company’s stock, valued at $249,006. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.57% of the stock is currently owned by insiders.

Institutional Trading of Midland States Bancorp

Several institutional investors have recently made changes to their positions in the company. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Midland States Bancorp in the 4th quarter worth approximately $203,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Midland States Bancorp during the fourth quarter valued at approximately $217,000. Price T Rowe Associates Inc. MD lifted its holdings in Midland States Bancorp by 12.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 1,403 shares during the period. Aquatic Capital Management LLC lifted its holdings in Midland States Bancorp by 17.4% during the third quarter. Aquatic Capital Management LLC now owns 16,602 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 2,466 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in Midland States Bancorp in the third quarter worth $274,000. Institutional investors own 60.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MSBI shares. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. DA Davidson raised their target price on Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Piper Sandler boosted their target price on Midland States Bancorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.70.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.