Midland States Bancorp, Inc. (NASDAQ:MSBI) Plans Dividend Increase - $0.33 Per Share

Key Points

• Midland States Bancorp increased its quarterly dividend by 3.1% to $0.33 per share, payable August 21 to shareholders of record on August 14. The dividend implies an annualized yield of approximately 3.8%.
• The dividend appears well covered, with a current payout ratio of 48.1% and an expected future payout ratio of 37.8% based on projected earnings of $3.39 per share.
• The company recently beat quarterly earnings expectations, reporting $0.82 in EPS versus the $0.78 consensus, and authorized a $45 million share buyback covering up to 8% of outstanding shares.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.33 per share by the financial services provider on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, August 14th. This is a 3.1% increase from Midland States Bancorp's previous quarterly dividend of $0.32.

Midland States Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Midland States Bancorp has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $3.39 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 37.8%.

Midland States Bancorp Stock Performance

Shares of MSBI opened at $34.53 on Wednesday. The firm's 50 day moving average price is $30.43 and its two-hundred day moving average price is $26.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $34.85. The firm has a market cap of $716.50 million, a P/E ratio of 22.13 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $83.74 million for the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. On average, analysts forecast that Midland States Bancorp will post 3.4 EPS for the current fiscal year.

Midland States Bancorp declared that its board has initiated a share buyback program on Wednesday, May 6th that permits the company to buyback $45.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company's offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

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