Midland States Bancorp, Inc. (NASDAQ:MSBI) Raises Dividend to $0.32 Per Share

Key Points

• Midland States Bancorp, Inc. has declared a quarterly dividend of $0.32 per share, reflecting a 3.2% increase from the previous dividend of $0.31.
• The company reported earnings per share (EPS) of $0.44 for the last quarter, missing analysts' expectations, and has a negative return on equity of 1.11%.
• Midland States Bancorp's stock is currently trading at $16.71, with a market capitalization of approximately $359.43 million.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, RTT News reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.32 per share by the financial services provider on Friday, August 22nd. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, August 15th. This is a 3.2% increase from Midland States Bancorp's previous quarterly dividend of $0.31.

Midland States Bancorp has a payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.81 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 44.1%.

Midland States Bancorp Price Performance

Shares of MSBI traded up $0.12 during midday trading on Thursday, reaching $17.28. The stock had a trading volume of 77,348 shares, compared to its average volume of 124,163. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.81. The company has a market capitalization of $371.78 million, a P/E ratio of -22.44 and a beta of 0.77. The firm's 50 day moving average price is $17.54 and its 200-day moving average price is $17.98. Midland States Bancorp has a 52 week low of $14.79 and a 52 week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.19). Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.11%. The business had revenue of $82.50 million during the quarter, compared to analyst estimates of $75.76 million. On average, analysts forecast that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Institutional Trading of Midland States Bancorp

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in Midland States Bancorp by 33.8% in the 4th quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider's stock worth $3,600,000 after purchasing an additional 37,254 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Midland States Bancorp by 392.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 86,621 shares of the financial services provider's stock worth $2,114,000 after buying an additional 69,038 shares during the period. Geode Capital Management LLC grew its holdings in shares of Midland States Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider's stock worth $12,648,000 after buying an additional 6,273 shares in the last quarter. Wells Fargo & Company MN raised its position in Midland States Bancorp by 22.0% in the 4th quarter. Wells Fargo & Company MN now owns 14,580 shares of the financial services provider's stock valued at $356,000 after buying an additional 2,630 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Midland States Bancorp by 8.7% in the 4th quarter. Federated Hermes Inc. now owns 29,684 shares of the financial services provider's stock valued at $724,000 after buying an additional 2,388 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company's stock.

About Midland States Bancorp

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.