Midland States Bancorp (NASDAQ:MSBI) Issues Quarterly Earnings Results, Misses Expectations By $3.19 EPS

Midland States Bancorp (NASDAQ:MSBI) released its quarterly earnings results on Thursday. The financial services provider reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19), Zacks reports. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%.

Midland States Bancorp Stock Up 2.0 %

Shares of MSBI stock traded up $0.50 during trading hours on Thursday, reaching $25.00. 125,410 shares of the stock were exchanged, compared to its average volume of 76,088. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.10. The business’s fifty day moving average is $25.41 and its two-hundred day moving average is $23.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $535 million, a P/E ratio of 10.82 and a beta of 0.76.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s payout ratio is presently 53.68%.

Analysts Set New Price Targets

MSBI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

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.