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

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.31 per share by the financial services provider on Friday, May 24th. This represents a $1.24 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Thursday, May 16th.

Midland States Bancorp has increased its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend every year for the last 8 years. Midland States Bancorp has a payout ratio of 40.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $3.03 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 40.9%.

Midland States Bancorp Price Performance

Shares of MSBI stock traded up $0.21 on Thursday, hitting $23.80. 101,813 shares of the company's stock were exchanged, compared to its average volume of 61,269. Midland States Bancorp has a 12 month low of $18.54 and a 12 month high of $28.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day moving average of $23.91 and a 200 day moving average of $24.52. The stock has a market cap of $520.03 million, a P/E ratio of 8.07 and a beta of 0.79.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results 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). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The firm had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same quarter last year, the firm posted $0.88 EPS. On average, equities research analysts predict that Midland States Bancorp will post 2.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 30th. Stephens reduced their target price on Midland States Bancorp from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods cut their price target on Midland States Bancorp from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Midland States Bancorp currently has an average rating of "Hold" and a consensus price target of $25.63.

Insider Buying and Selling

In other Midland States Bancorp news, SVP Douglas J. Tucker sold 3,577 shares of Midland States Bancorp stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $24.00, for a total transaction of $85,848.00. Following the transaction, the senior vice president now directly owns 32,871 shares of the company's stock, valued at approximately $788,904. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.

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.