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

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

Midland States Bancorp Stock Up 2.9 %

Shares of MSBI opened at $23.63 on Friday. The firm has a market capitalization of $505.45 million, a P/E ratio of 10.36 and a beta of 0.75. Midland States Bancorp has a 12-month low of $20.16 and a 12-month high of $28.47. The firm has a fifty day moving average price of $22.46 and a 200-day moving average price of $22.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10.

Midland States Bancorp Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, August 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.25%. Midland States Bancorp’s dividend payout ratio (DPR) is 54.39%.

Analyst Upgrades and Downgrades

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