What is DA Davidson’s Forecast for MSBI FY2024 Earnings?

Midland States Bancorp, Inc. (NASDAQ:MSBI) – Equities research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Midland States Bancorp in a research note issued on Wednesday, October 30th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings of $2.19 per share for the year, up from their prior estimate of $1.95. The consensus estimate for Midland States Bancorp’s current full-year earnings is $2.00 per share. DA Davidson also issued estimates for Midland States Bancorp’s Q4 2024 earnings at $0.70 EPS.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. The firm had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter last year, the business posted $0.78 EPS.

Several other research firms also recently commented on MSBI. StockNews.com upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Midland States Bancorp Price Performance

MSBI stock opened at $24.81 on Thursday. The business has a 50 day simple moving average of $22.64 and a 200-day simple moving average of $22.76. The company has a market capitalization of $530.69 million, a P/E ratio of 10.84 and a beta of 0.75. Midland States Bancorp has a twelve month low of $20.54 and a twelve month high of $28.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Midland States Bancorp by 60.1% during the 1st quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 7,770 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Midland States Bancorp in the first quarter valued at approximately $581,000. Empowered Funds LLC boosted its stake in shares of Midland States Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 64,859 shares of the financial services provider’s stock valued at $1,630,000 after buying an additional 4,900 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Midland States Bancorp by 7.4% during the first quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider’s stock worth $2,327,000 after acquiring an additional 6,371 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Midland States Bancorp in the first quarter worth $1,106,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 dividend on an annualized basis and a yield of 5.00%. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

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.