Midland States Bancorp, Inc. (MSBI) To Go Ex-Dividend on November 18th

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.31 per share by the financial services provider on Monday, November 25th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, November 18th.

Midland States Bancorp has raised its dividend payment by an average of 3.9% per year over the last three years. Midland States Bancorp has a payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Midland States Bancorp to earn $2.78 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 44.6%.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $26.71 on Friday. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $571.59 million, a price-to-earnings ratio of 11.56 and a beta of 0.74. The stock has a fifty day moving average of $23.53 and a 200 day moving average of $23.01.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, research analysts expect that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MSBI. Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Piper Sandler boosted their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday.

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.