Midland States Bancorp, Inc. (MSBI) To Go Ex-Dividend on May 15th

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.32 per share by the financial services provider on Friday, May 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 15th.

Midland States Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Midland States Bancorp has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Midland States Bancorp to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 41.0%.

Midland States Bancorp Stock Up 2.6%

Midland States Bancorp stock opened at $27.79 on Thursday. The stock has a market cap of $576.09 million, a P/E ratio of 23.55 and a beta of 0.66. The company has a quick ratio of 0.80, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $28.38. The company’s 50-day moving average price is $22.95 and its two-hundred day moving average price is $21.01.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. As a group, analysts expect that Midland States Bancorp will post 3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MSBI. Piper Sandler increased their price target on shares of Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. DA Davidson increased their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.90.

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.