Midland States Bancorp, Inc. Plans Quarterly Dividend of $0.31 (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors 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 yield of 6.40%. The ex-dividend date of this dividend is Friday, February 14th.

Midland States Bancorp has increased its dividend by an average of 3.5% per year 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. 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 0.8 %

Shares of MSBI opened at $19.38 on Thursday. The business’s fifty day moving average price is $24.06 and its 200 day moving average price is $23.66. Midland States Bancorp has a 12-month low of $18.55 and a 12-month high of $28.08. 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 (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts anticipate that Midland States Bancorp will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MSBI. Keefe, Bruyette & Woods reduced their price objective 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. Piper Sandler reduced their price objective on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Finally, DA Davidson dropped their target price on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp currently has an average rating of “Hold” and an average 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.