Midland States Bancorp (NASDAQ:MSBI) Shares Gap Up After Better-Than-Expected Earnings

Midland States Bancorp, Inc. (NASDAQ:MSBI) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $23.39, but opened at $25.00. Midland States Bancorp shares last traded at $24.5170, with a volume of 34,190 shares traded.

The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $75.59 million. Midland States Bancorp had a return on equity of 11.45% and a net margin of 7.53%.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a $0.32 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.1%. Midland States Bancorp’s dividend payout ratio (DPR) is 126.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MSBI shares. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Piper Sandler increased their price target on Midland States Bancorp from $23.00 to $25.50 and gave the company a “neutral” rating in a research report on Monday, January 26th. DA Davidson increased their price target on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Friday, March 27th. Finally, UBS Group set a $25.50 price target on Midland States Bancorp in a research report on Monday, January 26th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $23.00.

Insider Buying and Selling

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 2,808 shares of Midland States Bancorp stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total transaction of $63,657.36. Following the transaction, the chief operating officer owned 14,207 shares of the company’s stock, valued at $322,072.69. The trade was a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.57% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several institutional investors have recently made changes to their positions in MSBI. CANADA LIFE ASSURANCE Co grew its position in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares in the last quarter. Amundi lifted its position in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $46,000. Quadrant Capital Group LLC boosted its stake in shares of Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after buying an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC purchased a new position in shares of Midland States Bancorp during the 4th quarter valued at $107,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $536.75 million, a PE ratio of 21.19 and a beta of 0.57. The firm’s fifty day moving average price is $22.55 and its 200 day moving average price is $20.52.

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.