Midland States Bancorp, Inc. (NASDAQ:MSBI) to Post Q2 2024 Earnings of $0.73 Per Share, DA Davidson Forecasts

Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) - Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Midland States Bancorp in a research report issued on Thursday, May 2nd. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings of $0.73 per share for the quarter. The consensus estimate for Midland States Bancorp's current full-year earnings is $2.79 per share. DA Davidson also issued estimates for Midland States Bancorp's FY2024 earnings at $2.70 EPS and FY2025 earnings at $2.95 EPS.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.18). The firm had revenue of $122.86 million during the quarter, compared to analysts' expectations of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same quarter in the previous year, the company posted $0.88 earnings per share.

Several other analysts also recently weighed in on the company. Piper Sandler cut their price target on Midland States Bancorp from $26.00 to $24.50 and set a "neutral" rating on the stock in a research note on Tuesday. Stephens lowered their target price on Midland States Bancorp from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on Midland States Bancorp from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.63.

Midland States Bancorp Trading Down 0.3 %

Shares of MSBI stock traded down $0.06 during trading hours on Friday, reaching $23.75. The company's stock had a trading volume of 119,153 shares, compared to its average volume of 61,034. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. Midland States Bancorp has a one year low of $17.98 and a one year high of $28.47. The stock has a market capitalization of $518.94 million, a P/E ratio of 8.10 and a beta of 0.79. The firm's fifty day simple moving average is $23.95 and its 200 day simple moving average is $24.42.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were issued a $0.31 dividend. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 5.22%. The ex-dividend date was Thursday, February 15th. Midland States Bancorp's payout ratio is currently 42.18%.

Institutional Trading of Midland States Bancorp

Several large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in Midland States Bancorp by 176.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider's stock worth $39,000 after acquiring an additional 909 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Midland States Bancorp by 3.3% in the third quarter. New York State Common Retirement Fund now owns 47,674 shares of the financial services provider's stock worth $979,000 after acquiring an additional 1,508 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Midland States Bancorp by 9.0% during the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider's stock worth $467,000 after purchasing an additional 1,532 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Midland States Bancorp by 9.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 19,274 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 1,740 shares during the period. Finally, AJOVista LLC purchased a new stake in Midland States Bancorp in the fourth quarter valued at $67,000. Hedge funds and other institutional investors 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.