Midland States Bancorp Inc (NASDAQ:MSBI) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, August 17th will be paid a dividend of 0.22 per share by the financial services provider on Friday, August 24th. This represents a $0.88 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, August 16th.
Midland States Bancorp has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Midland States Bancorp to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 29.4%.
Shares of Midland States Bancorp stock traded up $0.04 during trading hours on Wednesday, hitting $34.71. The company’s stock had a trading volume of 28,582 shares, compared to its average volume of 88,113. Midland States Bancorp has a twelve month low of $28.70 and a twelve month high of $36.50. The firm has a market cap of $814.08 million, a PE ratio of 17.42, a price-to-earnings-growth ratio of 2.03 and a beta of 0.86. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The firm had revenue of $64.23 million for the quarter, compared to the consensus estimate of $65.80 million. Midland States Bancorp had a return on equity of 8.92% and a net margin of 7.33%. equities analysts expect that Midland States Bancorp will post 2.42 earnings per share for the current year.
In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of the company’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $34.18, for a total transaction of $68,360.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R. Robert Funderburg, Jr. sold 85,592 shares of the company’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $32.61, for a total value of $2,791,155.12. The disclosure for this sale can be found here. Insiders sold a total of 239,680 shares of company stock worth $7,742,724 in the last quarter. Company insiders own 9.20% of the company’s stock.
Several research firms recently issued reports on MSBI. Zacks Investment Research downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. BidaskClub downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 30th.
Midland States Bancorp Company Profile
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.
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