Midland States Bancorp (NASDAQ:MSBI) Issues Earnings Results, Beats Expectations By $0.04 EPS

Midland States Bancorp (NASDAQ:MSBI) announced its earnings results on Thursday. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04, FiscalAI reports. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The firm had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $32.25 on Friday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $32.51. The firm has a market capitalization of $668.54 million, a P/E ratio of 20.67 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $29.54 and a 200-day moving average of $25.45.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s payout ratio is currently 82.05%.

Midland States Bancorp announced that its board has initiated a stock repurchase program on Wednesday, May 6th that allows the company to buyback $45.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Travis Franklin bought 9,400 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the purchase, the director owned 9,400 shares of the company’s stock, valued at $249,006. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors have recently made changes to their positions in MSBI. Mercer Global Advisors Inc. ADV lifted its position in shares of Midland States Bancorp by 35.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,570 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 3,837 shares during the last quarter. Empowered Funds LLC increased its position in Midland States Bancorp by 10.7% in the 4th quarter. Empowered Funds LLC now owns 67,472 shares of the financial services provider’s stock worth $1,428,000 after buying an additional 6,513 shares during the period. XTX Topco Ltd acquired a new position in shares of Midland States Bancorp during the fourth quarter worth approximately $471,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Midland States Bancorp during the fourth quarter worth approximately $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Midland States Bancorp in the fourth quarter valued at approximately $427,000. 60.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MSBI shares. Piper Sandler increased their price target on Midland States Bancorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. DA Davidson raised their price target on Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Midland States Bancorp has an average rating of “Hold” and a consensus price target of $24.70.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.