Research Analysts Issue Forecasts for MSBI FY2024 Earnings

Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) - Stock analysts at DA Davidson upped their FY2024 earnings estimates for shares of Midland States Bancorp in a research report issued to clients and investors on Wednesday, October 30th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will earn $2.19 per share for the year, up from their previous estimate of $1.95. The consensus estimate for Midland States Bancorp's current full-year earnings is $2.00 per share. DA Davidson also issued estimates for Midland States Bancorp's Q4 2024 earnings at $0.70 EPS.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday. StockNews.com upgraded shares of Midland States Bancorp from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating for the company in a research note on Monday, July 29th.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI traded down $0.24 during trading hours on Thursday, hitting $24.81. 92,837 shares of the stock were exchanged, compared to its average volume of 79,257. 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 company's 50 day moving average is $22.64 and its 200 day moving average is $22.76. The firm has a market capitalization of $530.69 million, a P/E ratio of 10.84 and a beta of 0.75. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The business had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. During the same period in the prior year, the firm earned $0.78 EPS.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its stake in shares of Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider's stock valued at $85,000 after buying an additional 2,229 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Midland States Bancorp by 8.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider's stock worth $637,000 after purchasing an additional 2,295 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Midland States Bancorp by 47.5% in the 3rd quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider's stock worth $318,000 after purchasing an additional 4,576 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Midland States Bancorp in the 2nd quarter worth about $248,000. Finally, Bank of Montreal Can bought a new stake in shares of Midland States Bancorp in the 2nd quarter worth about $1,350,000. Institutional investors and hedge funds own 60.93% of the company's stock.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company's stock.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, August 16th. Midland States Bancorp's dividend payout ratio is 53.68%.

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.