Midland States Bancorp (NASDAQ:MSBI) Issues Quarterly Earnings Results, Misses Expectations By $0.52 EPS

Midland States Bancorp (NASDAQ:MSBI) issued its quarterly earnings data on Thursday. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52), Zacks reports. The firm had revenue of $120.95 million during the quarter, compared to analyst estimates of $74.90 million. Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. During the same quarter in the prior year, the firm earned $0.87 EPS.

Midland States Bancorp Stock Performance

MSBI traded down $1.98 during trading hours on Friday, hitting $24.01. 154,882 shares of the stock were exchanged, compared to its average volume of 163,250. Midland States Bancorp has a 12 month low of $19.85 and a 12 month high of $28.47. The stock has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $23.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $515.73 million, a price-to-earnings ratio of 8.17 and a beta of 0.76.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.16%. Midland States Bancorp’s dividend payout ratio (DPR) is 42.18%.

Insider Activity

In other Midland States Bancorp news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the purchase, the director now directly owns 24,245 shares in the company, valued at $528,541. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Midland States Bancorp news, SVP Douglas J. Tucker sold 3,577 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total value of $85,848.00. Following the sale, the senior vice president now directly owns 32,871 shares in the company, valued at $788,904. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $21.80 per share, with a total value of $49,922.00. Following the transaction, the director now directly owns 24,245 shares of the company’s stock, valued at approximately $528,541. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

MSBI has been the topic of several recent analyst reports. 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, 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 dropped their price target on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Midland States Bancorp presently has an average rating of “Hold” and an average price target of $25.63.

Midland States Bancorp Company Profile

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.