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

Midland States Bancorp (NASDAQ:MSBI) posted its quarterly earnings results on Thursday. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate 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 %

NASDAQ MSBI traded up $0.50 during trading on Thursday, reaching $25.00. 125,410 shares of the company’s stock traded hands, compared to its average volume of 75,843. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.10. The firm has a market cap of $535 million, a price-to-earnings ratio of 10.82 and a beta of 0.76. 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 company’s 50 day simple moving average is $25.41 and its two-hundred day simple moving average is $23.93.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note 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 raised their price target 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.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

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.