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

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

Midland States Bancorp has increased its dividend by an average of 3.9% annually over the last three years. Midland States Bancorp has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. 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 0.0 %

NASDAQ MSBI opened at $26.71 on Friday. 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 company’s 50 day simple moving average is $23.53 and its 200 day simple moving average is $23.02. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.47. The company has a market capitalization of $571.59 million, a P/E ratio of 11.56 and a beta of 0.74.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on MSBI shares. Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th.

Insider Transactions at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

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.