Midland States Bancorp (NASDAQ:MSBI) Issues Earnings Results

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

Midland States Bancorp Trading Up 2.0 %

Shares of NASDAQ MSBI traded up $0.50 during trading on Thursday, hitting $25.00. 125,410 shares of the company were exchanged, compared to its average volume of 76,088. The company has a fifty day moving average price of $25.41 and a 200-day moving average price of $23.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $535 million, a PE ratio of 10.82 and a beta of 0.76. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.10.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Buying and Selling

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the 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 completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MSBI. Piper Sandler increased their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Finally, StockNews.com upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

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.