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

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Monday, November 18th will be given a dividend of 0.31 per share by the financial services provider on Monday, November 25th. This represents a $1.24 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Monday, November 18th.

Midland States Bancorp has increased its dividend by an average of 3.9% annually over the last three years. Midland States Bancorp has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Midland States Bancorp to earn $2.78 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 44.6%.

Midland States Bancorp Price Performance

Shares of Midland States Bancorp stock traded down $0.01 during trading hours on Friday, hitting $26.48. The company’s stock had a trading volume of 81,762 shares, compared to its average volume of 90,835. The business has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $22.89. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.47. The company has a market cap of $566.41 million, a PE ratio of 11.46 and a beta of 0.74. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. The company had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the previous year, the firm posted $0.78 earnings per share. Analysts expect that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction 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 $8,433,286.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MSBI shares. StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler boosted their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 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.