Midland States Bancorp (NASDAQ:MSBI) Issues Quarterly Earnings Results

Midland States Bancorp (NASDAQ:MSBI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52), Zacks reports. The firm had revenue of $120.95 million during the quarter, compared to analyst estimates 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 prior year, the business earned $0.87 EPS.

Midland States Bancorp Price Performance

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

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Thursday, May 16th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 42.18%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Stephens lowered their price target on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Finally, Piper Sandler reduced their price objective on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.63.

Insider Transactions at Midland States Bancorp

In other news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $21.80 per share, with a total value of $49,922.00. Following the completion of the transaction, the director now directly owns 24,245 shares of the company’s stock, valued at approximately $528,541. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Midland States Bancorp news, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $21.80 per share, with a total value of $49,922.00. Following the acquisition, the director now owns 24,245 shares of the company’s stock, valued at $528,541. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald J. Spring sold 1,197 shares of Midland States Bancorp stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the completion of the transaction, the chief accounting officer now owns 12,015 shares in the company, valued at approximately $264,330. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

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.