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

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Friday, February 14th.

Midland States Bancorp has raised its dividend payment by an average of 3.5% per year over the last three years. Midland States Bancorp has a payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.81 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 44.1%.

Midland States Bancorp Trading Up 2.1 %

Midland States Bancorp stock opened at $20.02 on Wednesday. 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 has a 12-month low of $18.55 and a 12-month high of $28.08. The firm’s fifty day moving average is $23.62 and its 200 day moving average is $23.52.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results 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%. As a group, research analysts predict that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several recent analyst reports. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods cut their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Piper Sandler cut their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, DA Davidson dropped their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.50.

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.