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

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 6.40%. 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% annually over the last three years. Midland States Bancorp has a dividend payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $2.77 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 44.8%.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI traded up $0.13 on Wednesday, reaching $19.36. The company’s stock had a trading volume of 83,760 shares, compared to its average volume of 126,421. Midland States Bancorp has a 52-week low of $18.55 and a 52-week high of $28.08. 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 company has a 50-day simple moving average of $24.21 and a 200 day simple moving average of $23.69. The company has a market cap of $414.30 million, a P/E ratio of -18.44 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data 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 net margin of 2.74% and a negative return on equity of 1.95%. As a group, equities research analysts anticipate that Midland States Bancorp will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MSBI. Piper Sandler reduced their price target 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. Keefe, Bruyette & Woods reduced their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday, January 27th. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, DA Davidson reduced their price target on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.50.

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.