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

Midland States Bancorp, Inc. (NASDAQ:MSBI) – Equities research analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Midland States Bancorp in a research report issued to clients and investors on Wednesday, October 30th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will earn $2.19 per share for the year, up from their prior forecast 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 issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the prior year, the business earned $0.78 EPS.

MSBI has been the subject of a number of other research reports. Piper Sandler raised their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $24.81 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a 50-day moving average price of $22.64 and a 200 day moving average price of $22.76. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.47. The stock has a market cap of $530.69 million, a P/E ratio of 10.84 and a beta of 0.75.

Hedge Funds Weigh In On Midland States Bancorp

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

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by insiders.

Midland States Bancorp Announces Dividend

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

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.