Midland States Bancorp (NASDAQ:MSBI) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Midland States Bancorp (NASDAQ:MSBI) posted its quarterly earnings results on Thursday. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04, FiscalAI reports. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%.The firm had revenue of $83.74 million during the quarter, compared to analysts’ expectations of $80.70 million.

Midland States Bancorp Stock Up 0.4%

Shares of MSBI traded up $0.12 during midday trading on Thursday, hitting $30.97. The stock had a trading volume of 248,256 shares, compared to its average volume of 160,110. The firm has a market cap of $642.01 million, a price-to-earnings ratio of 26.25 and a beta of 0.66. The company has a 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $25.33. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $31.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s dividend payout ratio is 108.47%.

Insider Activity

In other news, Director Travis Franklin bought 9,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $26.49 per share, with a total value of $249,006.00. Following the transaction, the director owned 9,400 shares in the company, valued at $249,006. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.57% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its position in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after buying an additional 503 shares in the last quarter. Amundi increased its position in shares of Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Midland States Bancorp in the third quarter valued at about $46,000. Quadrant Capital Group LLC raised its holdings in Midland States Bancorp by 302.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in Midland States Bancorp by 32.0% during the second quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp declared that its board has initiated a share buyback program on Wednesday, May 6th that permits the company to buyback $45.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

MSBI has been the topic of a number of recent research reports. DA Davidson lifted their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Wall Street Zen downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Midland States Bancorp has an average rating of “Hold” and an average price target of $24.70.

About Midland States Bancorp

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.