Midland States Bancorp Inc to Issue Quarterly Dividend of $0.24 (NASDAQ:MSBI)

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Midland States Bancorp Inc (NASDAQ:MSBI) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.243 per share by the financial services provider on Friday, August 23rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, August 15th.

Midland States Bancorp has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 32.7%.

Shares of MSBI opened at $25.95 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 1.05. Midland States Bancorp has a twelve month low of $19.56 and a twelve month high of $35.28. The firm has a 50 day moving average of $26.18. The company has a market capitalization of $634.58 million, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.46 and a beta of 1.35.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.02. The business had revenue of $65.66 million for the quarter, compared to analyst estimates of $64.90 million. Midland States Bancorp had a net margin of 17.52% and a return on equity of 10.14%. As a group, research analysts forecast that Midland States Bancorp will post 2.55 EPS for the current year.

In other news, CFO Stephen A. Erickson sold 3,500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $26.01, for a total value of $91,035.00. Following the sale, the chief financial officer now owns 14,628 shares of the company’s stock, valued at $380,474.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leon J. Holschbach sold 9,500 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $254,030.00. The disclosure for this sale can be found here. In the last three months, insiders sold 54,178 shares of company stock worth $1,436,636. 12.70% of the stock is currently owned by insiders.

MSBI has been the topic of a number of research reports. BidaskClub raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine raised shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, TheStreet raised shares of Midland States Bancorp from a “c+” rating to a “b” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Midland States Bancorp Company Profile

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, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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Dividend History for Midland States Bancorp (NASDAQ:MSBI)

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