Midland States Bancorp, Inc. (NASDAQ:MSBI) Shareholders to Receive $0.33 Quarterly Dividend

Key Points

• Midland States Bancorp declared a quarterly dividend of $0.33 per share, payable November 20 to shareholders of record November 13. The annualized dividend is $1.32, a yield of about 4.0%.
• The dividend appears covered by earnings: the current payout ratio is 49.6%, and analysts expect next year’s earnings to imply a payout ratio of 38.3%.
• The company beat quarterly earnings expectations, reporting EPS of $0.95 versus the $0.89 consensus, and revenue of $86.14 million versus estimates of $83.77 million.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) declared a quarterly dividend on Monday, November 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.33 per share by the financial services provider on Friday, November 20th. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, November 13th.

Midland States Bancorp has a payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 38.3%.

Midland States Bancorp Stock Down 0.4%

Shares of NASDAQ:MSBI opened at $33.22 on Wednesday. The stock's 50-day moving average price is $32.98 and its two-hundred day moving average price is $28.30. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.03. Midland States Bancorp has a 12-month low of $15.06 and a 12-month high of $35.10. The firm has a market cap of $690.98 million, a price-to-earnings ratio of 10.79 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. Midland States Bancorp had a return on equity of 17.13% and a net margin of 12.80%. The company had revenue of $86.14 million during the quarter, compared to analysts' expectations of $83.77 million. On average, research analysts forecast that Midland States Bancorp will post 3.44 EPS for the current year.

Insider Activity at Midland States Bancorp

In other news, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total value of $79,992.00. Following the transaction, the chief operating officer directly owned 13,610 shares of the company's stock, valued at $453,621.30. The trade was a 14.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 4,087 shares of company stock valued at $136,352. Company insiders own 8.57% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Woodmont Investment Counsel LLC purchased a new stake in Midland States Bancorp during the 3rd quarter worth $897,000. Vise Technologies Inc. raised its position in Midland States Bancorp by 30.3% in the third quarter. Vise Technologies Inc. now owns 12,003 shares of the financial services provider's stock valued at $386,000 after purchasing an additional 2,792 shares during the period. Midland Wealth Advisors LLC raised its position in Midland States Bancorp by 45.6% in the third quarter. Midland Wealth Advisors LLC now owns 28,493 shares of the financial services provider's stock valued at $916,000 after purchasing an additional 8,925 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Midland States Bancorp during the third quarter worth about $25,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Midland States Bancorp during the second quarter worth about $228,000. Hedge funds and other institutional investors own 60.93% of the company's stock.

About Midland States Bancorp

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.

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