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

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.31 per share by the financial services provider on Friday, February 21st. This represents a $1.24 annualized dividend and a yield of 6.29%. The ex-dividend date is Friday, February 14th.

Midland States Bancorp has raised its dividend payment by an average of 3.5% per year over the last three years. Midland States Bancorp has a dividend payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Midland States Bancorp to earn $2.81 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 44.1%.

Midland States Bancorp Price Performance

Shares of MSBI stock traded down $0.17 on Friday, reaching $19.72. 153,378 shares of the company were exchanged, compared to its average volume of 137,967. Midland States Bancorp has a 1 year low of $18.55 and a 1 year high of $28.08. 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 business has a 50-day moving average price of $23.77 and a 200 day moving average price of $23.57. The company has a market cap of $422.01 million, a price-to-earnings ratio of -18.78 and a beta of 0.73.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. Equities research analysts forecast that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MSBI. DA Davidson decreased their price objective on Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. StockNews.com cut shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods dropped their price target on Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Finally, Piper Sandler cut their price target on Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp has an average rating of "Hold" and a consensus target price of $23.50.

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.