Midland States Bancorp (NASDAQ:MSBI) Posts Quarterly Earnings Results, Misses Estimates 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 the consensus estimate 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 traded up $0.50 during mid-day trading on Thursday, reaching $25.00. The stock had a trading volume of 125,410 shares, compared to its average volume of 75,843. The firm has a market cap of $535 million, a price-to-earnings ratio of 10.82 and a beta of 0.76. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.10. The business has a fifty day moving average of $25.41 and a 200 day moving average of $23.93. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.96%. Midland States Bancorp’s payout ratio is currently 53.68%.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were 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 in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler boosted their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

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, 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.