Midland States Bancorp (NASDAQ:MSBI) Announces Earnings Results, Beats Estimates By $0.11 EPS

Midland States Bancorp (NASDAQ:MSBI) announced its quarterly earnings data on Thursday. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11, Zacks reports. The firm had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 9.24% and a net margin of 12.10%. During the same quarter in the prior year, the company posted $0.78 earnings per share.

Midland States Bancorp Stock Up 2.9 %

NASDAQ MSBI traded up $0.66 during mid-day trading on Friday, reaching $23.63. 69,950 shares of the company’s stock traded hands, compared to its average volume of 78,736. Midland States Bancorp has a 1-year low of $20.16 and a 1-year high of $28.47. The company has a fifty day simple moving average of $22.42 and a 200-day simple moving average of $22.76. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a market cap of $505.45 million, a price-to-earnings ratio of 10.64 and a beta of 0.75.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.25%. Midland States Bancorp’s payout ratio is currently 54.39%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock 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.