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

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders 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 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, November 18th.

Midland States Bancorp has increased its dividend 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. 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 Stock Down 0.0 %

Shares of MSBI stock traded down $0.01 during midday trading on Friday, reaching $26.48. 81,762 shares of the stock were exchanged, compared to its average volume of 90,835. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The firm has a market cap of $566.70 million, a PE ratio of 11.46 and a beta of 0.74. The company's 50 day moving average is $23.07 and its two-hundred day moving average is $22.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $124.17 million for the quarter, compared to analysts' expectations of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This 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 this link. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MSBI has been the subject of a number of recent research reports. StockNews.com cut shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Wednesday. Piper Sandler lifted their target price on shares of 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 cut their price target on Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating on the stock in a research note on Monday, July 29th.

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.