Research Analysts Set Expectations for Midland States Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:MSBI)

Midland States Bancorp, Inc. (NASDAQ:MSBI) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Midland States Bancorp in a note issued to investors on Thursday, May 2nd. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings per share of $0.73 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 data on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The company had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. During the same period last year, the business earned $0.88 EPS.

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

Midland States Bancorp Trading Down 0.3 %

NASDAQ:MSBI 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 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 capitalization of $518.94 million, a price-to-earnings ratio of 8.08 and a beta of 0.79. The firm 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 disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were issued a dividend of $0.31 per share. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend was Thursday, February 15th. Midland States Bancorp’s payout ratio is currently 42.18%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MSBI. SG Americas Securities LLC raised its position in Midland States Bancorp by 89.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock valued at $278,000 after buying an additional 6,393 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Midland States Bancorp by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after purchasing an additional 3,154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Midland States Bancorp by 110.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,244 shares during the last quarter. New York State Common Retirement Fund grew its position in Midland States Bancorp by 3.3% in the 3rd quarter. New York State Common Retirement Fund now owns 47,674 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 1,508 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Midland States Bancorp in the 3rd quarter valued at about $244,000. Institutional investors own 60.93% of the company’s stock.

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.