Midland States Bancorp (NASDAQ:MSBI) Releases Earnings Results, Misses Expectations By $0.17 EPS

by · The Markets Daily

Midland States Bancorp (NASDAQ:MSBI – Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17), FiscalAI reports. The company had revenue of $85.79 million for the quarter, compared to analyst estimates of $74.49 million. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%.

Midland States Bancorp Trading Up 1.6%

Shares of NASDAQ:MSBI traded up $0.37 during mid-day trading on Thursday, reaching $24.11. 266,078 shares of the company’s stock were exchanged, compared to its average volume of 178,669. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $25.05. The firm has a market capitalization of $519.57 million, a price-to-earnings ratio of -18.98 and a beta of 0.66. The business’s fifty day moving average price is $19.87 and its 200-day moving average price is $18.26.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 annualized dividend and a dividend yield of 5.3%. Midland States Bancorp’s dividend payout ratio (DPR) is presently -100.79%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. Wall Street Zen cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Keefe, Bruyette & Woods lifted their price target on Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Monday, December 8th. Finally, Zacks Research upgraded Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Midland States Bancorp presently has a consensus rating of “Reduce” and an average target price of $20.00.

View Our Latest Stock Analysis on Midland States Bancorp

Insider Buying and Selling at Midland States Bancorp

In related news, insider Daniel Edward Casey bought 5,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were purchased at an average cost of $17.89 per share, with a total value of $89,450.00. Following the acquisition, the insider owned 28,254 shares of the company’s stock, valued at $505,464.06. This represents a 21.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Andrew Jameson purchased 5,598 shares of Midland States Bancorp stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the transaction, the executive vice president directly owned 63,412 shares in the company, valued at approximately $1,121,758.28. The trade was a 9.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 11,098 shares of company stock valued at $197,324. 5.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Midland States Bancorp in the 3rd quarter worth approximately $46,000. Jacobs Levy Equity Management Inc. raised its stake in Midland States Bancorp by 6.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 120,942 shares of the financial services provider’s stock worth $2,073,000 after buying an additional 7,591 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Midland States Bancorp by 48.4% in the third quarter. Qube Research & Technologies Ltd now owns 59,373 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 19,354 shares during the period. Numerai GP LLC bought a new stake in Midland States Bancorp during the third quarter valued at $814,000. Finally, Mariner LLC boosted its position in Midland States Bancorp by 31.5% during the third quarter. Mariner LLC now owns 28,118 shares of the financial services provider’s stock valued at $482,000 after acquiring an additional 6,735 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp declared that its board has initiated a stock buyback plan on Monday, November 3rd that allows the company to buyback $25.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Midland States Bancorp

(Get Free Report)

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

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