Midland States Bancorp, Inc. (NASDAQ:MSBI) Raises Dividend to $0.33 Per Share

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, August 14th will be paid a dividend of 0.33 per share by the financial services provider on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 14th. This is a 3.1% increase from Midland States Bancorp’s previous quarterly dividend of $0.32.

Midland States Bancorp has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Midland States Bancorp has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $3.39 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 37.8%.

Midland States Bancorp Stock Up 0.8%

Midland States Bancorp stock opened at $34.53 on Wednesday. The stock has a market cap of $716.50 million, a P/E ratio of 22.13 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $34.85. The company’s 50-day moving average price is $30.43 and its two-hundred day moving average price is $26.06.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The company had revenue of $83.74 million during the quarter, compared to analysts’ expectations of $80.70 million. As a group, analysts expect that Midland States Bancorp will post 3.4 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.57% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in Midland States Bancorp by 10.1% in the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock valued at $14,456,000 after purchasing an additional 62,874 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after buying an additional 149,175 shares during the last quarter. Patriot Financial Partners GP II L.P. acquired a new position in shares of Midland States Bancorp during the first quarter worth $9,783,000. Rhino Investment Partners Inc increased its holdings in shares of Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after buying an additional 58,754 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after acquiring an additional 117,422 shares during the last quarter. 60.93% of the stock is owned by institutional investors.

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.