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

Midland States Bancorp (NASDAQ:MSBI) released its quarterly earnings results on Thursday. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.52), Zacks reports. The firm had revenue of $120.95 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.87 EPS.

Midland States Bancorp Stock Performance

NASDAQ:MSBI traded down $1.98 during trading hours on Friday, reaching $24.01. 154,882 shares of the company’s stock were exchanged, compared to its average volume of 163,250. Midland States Bancorp has a 1-year low of $19.85 and a 1-year high of $28.47. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $515.73 million, a price-to-earnings ratio of 8.17 and a beta of 0.76. The company has a 50-day moving average of $22.92 and a 200 day moving average of $23.95.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.16%. Midland States Bancorp’s payout ratio is 42.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MSBI shares. Keefe, Bruyette & Woods decreased their price target 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 dropped their target price on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Finally, Piper Sandler cut their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.63.

Insiders Place Their Bets

In other news, CAO Donald J. Spring sold 1,197 shares of the company’s 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 sale, the chief accounting officer now directly owns 12,015 shares of the company’s stock, valued at $264,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Donald J. Spring sold 1,197 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total value of $26,334.00. Following the transaction, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at $264,330. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas J. Tucker sold 3,577 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total value of $85,848.00. Following the sale, the senior vice president now directly owns 32,871 shares of the company’s stock, valued at $788,904. 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.