Midland States Bancorp, Inc. to Post Q2 2024 Earnings of $0.73 Per Share, DA Davidson Forecasts (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for Midland States Bancorp in a report issued on Thursday, May 2nd. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings of $0.73 per share for the quarter. The consensus estimate for Midland States Bancorp’s current full-year earnings is $2.79 per share. DA Davidson also issued estimates for Midland States Bancorp’s FY2024 earnings at $2.70 EPS and FY2025 earnings at $2.95 EPS.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). The company had revenue of $122.86 million for the quarter, compared to analysts’ expectations of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same quarter in the prior year, the firm earned $0.88 EPS.

MSBI has been the subject of several other reports. Stephens decreased their price target on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler decreased their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.63.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $23.75 on Friday. Midland States Bancorp has a 12 month low of $17.98 and a 12 month high of $28.47. The firm has a market capitalization of $518.94 million, a P/E ratio of 8.08 and a beta of 0.79. 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 business has a fifty day simple moving average of $23.94 and a two-hundred day simple moving average of $24.44.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.24 annualized dividend and a yield of 5.22%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Institutional Trading of Midland States Bancorp

A number of large investors have recently made changes to their positions in MSBI. Hennessy Advisors Inc. purchased a new stake in Midland States Bancorp in the fourth quarter worth approximately $3,032,000. Midland Wealth Advisors LLC purchased a new position in shares of Midland States Bancorp in the 4th quarter worth $1,573,000. AQR Capital Management LLC grew its holdings in shares of Midland States Bancorp by 27.5% in the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after acquiring an additional 54,090 shares during the period. Dimensional Fund Advisors LP increased its position in Midland States Bancorp by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock valued at $37,811,000 after acquiring an additional 37,813 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in Midland States Bancorp by 48.1% in the first quarter. Accurate Wealth Management LLC now owns 105,286 shares of the financial services provider’s stock valued at $2,502,000 after acquiring an additional 34,191 shares during the period. 60.93% of the stock is currently owned by institutional investors.

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.