Midland States Bancorp, Inc. (MSBI) to Issue Quarterly Dividend of $0.31 on February 21st

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.31 per share by the financial services provider on Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Friday, February 14th.

Midland States Bancorp has increased its dividend payment by an average of 3.5% annually over the last three years. Midland States Bancorp has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 44.8%.

Midland States Bancorp Stock Up 2.6 %

Shares of Midland States Bancorp stock opened at $19.89 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day moving average price of $24.06 and a 200-day moving average price of $23.66. Midland States Bancorp has a 52 week low of $18.55 and a 52 week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. Equities research analysts predict that Midland States Bancorp will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several analyst reports. Piper Sandler decreased their price objective on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th. DA Davidson cut their target price on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.50.

About Midland States Bancorp

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.