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

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

Midland States Bancorp Stock Down 7.6 %

MSBI stock traded down $1.98 during midday trading on Friday, hitting $24.01. 154,882 shares of the company’s stock were exchanged, compared to its average volume of 163,250. The stock has a market capitalization of $515.73 million, a price-to-earnings ratio of 8.17 and a beta of 0.76. The firm has a 50 day moving average price of $22.92 and a 200-day moving average price of $23.95. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. Midland States Bancorp has a 12-month low of $19.85 and a 12-month high of $28.47.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Thursday, May 16th. Midland States Bancorp’s payout ratio is 42.18%.

Insider Buying and Selling at Midland States Bancorp

In other news, SVP Douglas J. Tucker sold 3,577 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $24.00, for a total value of $85,848.00. Following the sale, the senior vice president now owns 32,871 shares in the company, valued at approximately $788,904. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Douglas J. Tucker sold 3,577 shares of Midland States Bancorp stock in a transaction dated Friday, May 3rd. The shares were 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 approximately $788,904. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Donald J. Spring sold 1,197 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total value of $26,334.00. Following the transaction, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at $264,330. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MSBI has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective 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. Piper Sandler dropped their price target on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Finally, Stephens reduced their price objective on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.