Midland States Bancorp (NASDAQ:MSBI) Releases Earnings Results, Misses Estimates By $3.19 EPS

Midland States Bancorp (NASDAQ:MSBI) announced 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 net margin of 12.13% and a return on equity of 8.90%.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $25.00 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $25.41 and a two-hundred day moving average price of $23.93. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.10. The company has a market cap of $535 million, a P/E ratio of 10.82 and a beta of 0.76.

Midland States Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other Midland States Bancorp 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 transaction of $312,703.56. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MSBI. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Piper Sandler increased their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.