Midland States Bancorp (NASDAQ:MSBI) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Midland States Bancorp (NASDAQ:MSBI) issued its quarterly earnings data on Thursday. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11, Zacks reports. The firm had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a net margin of 12.10% and a return on equity of 9.24%. During the same period in the previous year, the firm earned $0.78 EPS.

Midland States Bancorp Stock Up 2.9 %

MSBI traded up $0.66 on Friday, reaching $23.63. The company’s stock had a trading volume of 69,950 shares, compared to its average volume of 78,736. The stock has a 50 day moving average of $22.42 and a two-hundred day moving average of $22.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $505.45 million, a price-to-earnings ratio of 10.64 and a beta of 0.75. Midland States Bancorp has a fifty-two week low of $20.16 and a fifty-two week high of $28.47.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Friday, August 16th. Midland States Bancorp’s dividend payout ratio is presently 54.39%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MSBI shares. Piper Sandler lifted their target price on Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, July 29th.

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.