Midland States Bancorp (NASDAQ:MSBI) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Midland States Bancorp (NASDAQ:MSBI) released its earnings results on Thursday. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.17), FiscalAI reports. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%.The business had revenue of $85.79 million for the quarter, compared to analyst estimates of $74.49 million.

Midland States Bancorp Stock Performance

MSBI traded up $0.37 during midday trading on Thursday, reaching $24.11. The company had a trading volume of 266,078 shares, compared to its average volume of 178,669. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $25.05. The business has a 50-day moving average price of $19.87 and a two-hundred day moving average price of $18.26. The stock has a market cap of $519.57 million, a PE ratio of -18.98 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 annualized dividend and a yield of 5.3%. Midland States Bancorp’s payout ratio is currently -100.79%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research raised shares of Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Monday, December 8th. Piper Sandler boosted their price target on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Wall Street Zen downgraded Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Midland States Bancorp presently has an average rating of “Reduce” and a consensus price target of $20.00.

Insider Buying and Selling at Midland States Bancorp

In related news, insider Daniel Edward Casey bought 5,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average price of $17.89 per share, for a total transaction of $89,450.00. Following the purchase, the insider directly owned 28,254 shares in the company, valued at $505,464.06. This trade represents a 21.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Andrew Jameson purchased 5,598 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the completion of the transaction, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. This trade represents a 9.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 11,098 shares of company stock worth $197,324. Corporate insiders own 5.27% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds have recently bought and sold shares of MSBI. Amundi increased its holdings in Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares during the period. First Trust Advisors LP grew its position in shares of Midland States Bancorp by 8.1% during the 2nd quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 1,084 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Midland States Bancorp by 5.5% in the second quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 1,687 shares during the period. Quantbot Technologies LP increased its holdings in shares of Midland States Bancorp by 32.0% in the second quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,787 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Midland States Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 2,004 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp declared that its board has authorized a share buyback plan on Monday, November 3rd that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.