Midland States Bancorp (NASDAQ:MSBI) Announces Quarterly Earnings Results, Misses Expectations By $3.19 EPS

Midland States Bancorp (NASDAQ:MSBI) announced its quarterly earnings data on Thursday. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19), Zacks reports. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%.

Midland States Bancorp Stock Down 20.0 %

MSBI opened at $20.00 on Friday. Midland States Bancorp has a fifty-two week low of $19.75 and a fifty-two week high of $28.10. The business has a 50-day moving average of $25.24 and a 200-day moving average of $23.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $428 million, a PE ratio of 8.66 and a beta of 0.76.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Transactions at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

MSBI has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Piper Sandler raised their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

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.