Midland States Bancorp (MSBI) Set to Announce Quarterly Earnings on Thursday

Midland States Bancorp (NASDAQ:MSBI) will issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect Midland States Bancorp to post earnings of $0.71 per share for the quarter.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Midland States Bancorp had a net margin of 17.19% and a return on equity of 12.82%. The firm had revenue of $78.59 million during the quarter, compared to the consensus estimate of $75.65 million. On average, analysts expect Midland States Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Midland States Bancorp Trading Down 0.4 %

MSBI stock opened at $22.73 on Thursday. Midland States Bancorp has a 12-month low of $17.98 and a 12-month high of $28.47. The business’s 50-day moving average is $24.26 and its 200 day moving average is $24.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a market cap of $496.65 million, a price-to-earnings ratio of 6.95 and a beta of 0.77.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.46%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, February 15th. Midland States Bancorp’s payout ratio is presently 37.92%.

Institutional Investors Weigh In On Midland States Bancorp

A number of hedge funds have recently modified their holdings of MSBI. Advisor Group Holdings Inc. boosted its holdings in Midland States Bancorp by 189.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,940 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 5,855 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Midland States Bancorp by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 173,384 shares of the financial services provider’s stock valued at $5,004,000 after acquiring an additional 2,966 shares during the last quarter. Bank of Montreal Can purchased a new position in Midland States Bancorp in the first quarter worth approximately $205,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Midland States Bancorp in the first quarter worth approximately $329,000. Finally, MetLife Investment Management LLC increased its stake in Midland States Bancorp by 59.2% during the first quarter. MetLife Investment Management LLC now owns 10,894 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 4,049 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th.

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.