Midland States Bancorp (NASDAQ:MSBI) Releases Earnings Results, Misses Expectations By $3.19 EPS

Midland States Bancorp (NASDAQ:MSBI) issued its earnings results on Thursday. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19), Zacks reports. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%.

Midland States Bancorp Price Performance

Shares of MSBI opened at $20.00 on Friday. The firm has a market capitalization of $428 million, a price-to-earnings ratio of 8.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. Midland States Bancorp has a one year low of $19.75 and a one year high of $28.10. The stock’s fifty day moving average is $25.24 and its 200-day moving average is $23.92.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MSBI shares. Keefe, Bruyette & Woods upped their price target on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler increased their target price on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday.

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.