Midland States Bancorp, Inc. (MSBI) to Distribute Quarterly Dividend of $0.33 on August 21st

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be given a dividend of 0.33 per share by the financial services provider on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. This is a 3.1% increase from Midland States Bancorp’s previous quarterly dividend of $0.32.

Midland States Bancorp has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Midland States Bancorp has a payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Midland States Bancorp to earn $3.39 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 38.9%.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $33.35 on Wednesday. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $35.10. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $31.02 and a 200-day moving average price of $26.45. The company has a market cap of $692.01 million, a PE ratio of 21.38 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Equities analysts anticipate that Midland States Bancorp will post 3.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on MSBI shares. DA Davidson upped their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Piper Sandler increased their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.10.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.