Midland States Bancorp (NASDAQ:MSBI) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS
by Jessica Moore · The Cerbat GemMidland States Bancorp (NASDAQ:MSBI – Get Free Report) released its quarterly earnings data on Thursday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.20, FiscalAI reports. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $75.59 million.
Midland States Bancorp Trading Up 1.4%
MSBI stock traded up $0.32 during mid-day trading on Thursday, hitting $23.39. 110,103 shares of the company were exchanged, compared to its average volume of 152,168. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $502.09 million, a P/E ratio of 23.16 and a beta of 0.57. The business has a fifty day simple moving average of $22.51 and a 200-day simple moving average of $20.44. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $24.72.
Midland States Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, February 13th. Midland States Bancorp’s dividend payout ratio (DPR) is 126.73%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. UBS Group set a $25.50 target price on shares of Midland States Bancorp in a research note on Monday, January 26th. DA Davidson increased their target price on shares of Midland States Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Finally, Piper Sandler increased their target price on shares of Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $23.00.
Get Our Latest Stock Analysis on Midland States Bancorp
Insiders Place Their Bets
In other Midland States Bancorp news, COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the completion of the transaction, the chief operating officer owned 14,207 shares of the company’s stock, valued at $322,072.69. This trade represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.57% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its holdings in shares of Midland States Bancorp by 35.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,570 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 3,837 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Midland States Bancorp by 10.7% in the fourth quarter. Empowered Funds LLC now owns 67,472 shares of the financial services provider’s stock valued at $1,428,000 after purchasing an additional 6,513 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Midland States Bancorp in the fourth quarter valued at approximately $471,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Midland States Bancorp in the fourth quarter valued at approximately $203,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Midland States Bancorp in the fourth quarter valued at approximately $427,000. Institutional investors and hedge funds own 60.93% of the company’s stock.
About Midland States Bancorp
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.