Midland States Bancorp, Inc. Declares Quarterly Dividend of $0.32 (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) declared a quarterly dividend on Monday, November 3rd. Stockholders of record on Friday, November 14th will be paid a dividend of 0.32 per share by the financial services provider on Friday, November 21st. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, November 14th.

Midland States Bancorp has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Midland States Bancorp has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.81 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 45.6%.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $15.94 on Tuesday. The firm’s 50 day moving average is $17.21 and its 200 day moving average is $17.40. The stock has a market capitalization of $343.41 million, a P/E ratio of -20.70 and a beta of 0.72. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $28.08. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.02.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 EPS for the quarter. Midland States Bancorp had a negative return on equity of 1.30% and a negative net margin of 1.50%.The business had revenue of $70.61 million during the quarter. On average, sell-side analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp declared that its Board of Directors has approved a stock buyback program 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 programs are usually a sign that the company’s management believes its shares are undervalued.

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.