Midland States Bancorp, Inc. (NASDAQ:MSBI) Declares Quarterly Dividend of $0.31

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Monday, November 18th will be paid a dividend of 0.31 per share by the financial services provider on Monday, November 25th. This represents a $1.24 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, November 18th.

Midland States Bancorp has raised its dividend payment by an average of 3.9% annually over the last three years. Midland States Bancorp has a payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of MSBI opened at $26.71 on Friday. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47. The company has a 50-day simple moving average of $23.53 and a two-hundred day simple moving average of $23.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $571.59 million, a PE ratio of 11.56 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MSBI. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods lowered their price objective on 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. Finally, Piper Sandler increased their target price on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

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.