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

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 paid a dividend of 0.31 per share by the financial services provider on Monday, November 25th. This represents a $1.24 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, November 18th.

Midland States Bancorp has increased its dividend payment by an average of 3.9% per year 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

Midland States Bancorp stock traded down $0.01 during midday trading on Friday, reaching $26.48. The company had a trading volume of 81,762 shares, compared to its average volume of 90,835. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s fifty day simple moving average is $23.07 and its 200-day simple moving average is $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 capitalization of $566.41 million, a P/E ratio of 11.46 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. The company had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. During the same quarter last year, the company posted $0.78 EPS. As a group, equities analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate 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.