Midland States Bancorp (NASDAQ:MSBI) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Midland States Bancorp (NASDAQ:MSBI) posted its quarterly earnings data on Thursday. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06, FiscalAI reports. Midland States Bancorp had a return on equity of 16.82% and a net margin of 12.80%. The company had revenue of $86.14 million during the quarter, compared to analyst estimates of $83.77 million.

Midland States Bancorp Price Performance

MSBI traded up $0.02 during trading on Friday, reaching $32.98. The stock had a trading volume of 358,718 shares, compared to its average volume of 160,844. The stock has a market cap of $684.40 million, a PE ratio of 14.53 and a beta of 0.66. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. Midland States Bancorp has a one year low of $14.24 and a one year high of $35.10. The business has a 50-day moving average of $32.88 and a 200-day moving average of $30.29.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.0%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 14th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 58.15%.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson raised their price target on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Piper Sandler boosted their price objective on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Finally, Weiss Ratings raised shares of Midland States Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.12.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the completion of the sale, the chief operating officer owned 13,610 shares of the company’s stock, valued at $453,621.30. The trade was a 14.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Ludwig sold 8,383 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares of the company’s stock, valued at $13,633,014. The trade was a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,470 shares of company stock worth $421,374 in the last 90 days. Company insiders own 8.57% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.