Midland States Bancorp, Inc. (MSBI) To Go Ex-Dividend on November 13th

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Monday, November 2nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.33 per share by the financial services provider on Friday, November 20th. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, November 13th.

Midland States Bancorp has a dividend payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 38.3%.

Midland States Bancorp Trading Up 0.5%

Shares of Midland States Bancorp stock opened at $32.44 on Wednesday. Midland States Bancorp has a 1 year low of $15.06 and a 1 year high of $35.10. The company has a market capitalization of $674.82 million, a P/E ratio of 14.29 and a beta of 0.66. The business has a 50 day moving average price of $32.92 and a 200 day moving average price of $28.53. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.74 and a quick ratio of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $86.14 million during the quarter, compared to the consensus estimate of $83.77 million. Midland States Bancorp had a return on equity of 17.13% and a net margin of 12.80%. Sell-side analysts anticipate that Midland States Bancorp will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MSBI. Zacks Research lowered shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Wall Street Zen upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler upped their price target on shares of Midland States Bancorp from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Keefe, Bruyette & Woods upped their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Stephens increased their price target on Midland States Bancorp from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Six investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.50.

About Midland States Bancorp

Midland States Bancorp, Inc. is a financial holding company headquartered in Effingham, Illinois. Its principal subsidiary, Midland States Bank, provides banking and financial services to individuals, businesses and organizations, with a focus on community banking. The bank offers deposit accounts, personal and business loans, mortgage lending, treasury management and other commercial banking services. It also provides wealth management services, including investment and trust services. Midland States Bank traces its roots to 1881 and primarily serves customers in Illinois and Missouri.