Midland States Bancorp, Inc. Declares Quarterly Dividend of $0.32 (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Monday, November 3rd. Investors of record on Friday, November 14th will be paid a dividend of 0.32 per share by the financial services provider on Friday, November 21st. This represents a c) annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, November 14th.

Midland States Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Midland States Bancorp has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Midland States Bancorp to earn $2.81 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 45.6%.

Midland States Bancorp Stock Performance

MSBI stock opened at $15.94 on Tuesday. The company has a market capitalization of $343.41 million, a price-to-earnings ratio of -20.70 and a beta of 0.72. The firm has a 50 day moving average of $17.21 and a two-hundred day moving average of $17.40. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $70.61 million during the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. As a group, equities analysts anticipate that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MSBI shares. Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $20.00 to $17.00 and set a “market perform” rating on the stock in a report on Monday. Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Midland States Bancorp in a report on Tuesday, October 14th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Midland States Bancorp currently has an average rating of “Reduce” and a consensus price target of $20.00.

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, 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.