Midland States Bancorp, Inc. to Issue Quarterly Dividend of $0.31 (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.31 per share by the financial services provider on Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Friday, February 14th.

Midland States Bancorp has raised its dividend by an average of 3.5% annually over the last three years. Midland States Bancorp has a dividend payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Midland States Bancorp to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 44.8%.

Midland States Bancorp Stock Up 0.7 %

NASDAQ:MSBI traded up $0.13 during mid-day trading on Wednesday, hitting $19.36. The stock had a trading volume of 83,760 shares, compared to its average volume of 126,421. The stock has a 50-day simple moving average of $24.21 and a two-hundred day simple moving average of $23.69. The company has a market capitalization of $414.30 million, a PE ratio of -18.44 and a beta of 0.74. Midland States Bancorp has a twelve month low of $18.55 and a twelve month high of $28.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. On average, equities research analysts anticipate that Midland States Bancorp will post 2.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MSBI. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. DA Davidson lowered their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler lowered their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.50.

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.