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EFFINGHAM, Ill. - Midland States Bancorp, Inc. (NASDAQ:MSBI) announced Tuesday that its Board of Directors has declared a quarterly cash dividend of $0.32 per share of common stock, representing a 3.2% increase from the previous $0.31 per share. The bank currently offers an attractive 7.41% dividend yield, and according to InvestingPro, has maintained dividend payments for 10 consecutive years.
The dividend will be payable on August 22, 2025, to shareholders of record as of the close of business on August 15, 2025, according to a company press release.
The bank also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, payable on September 30, 2025, to stockholders of record as of September 15, 2025.
Jeffrey G. Ludwig, President and Chief Executive Officer, noted that this marks the 25th consecutive year that Midland States Bancorp has increased its quarterly cash dividend.
"The bank’s capital ratios remain at strong levels, while earnings and asset quality improved significantly in the second quarter," Ludwig said. Trading at a P/E ratio of 10.4 and price-to-book of 0.78, InvestingPro analysis suggests the stock is currently undervalued. Additional financial insights are available through InvestingPro’s comprehensive analysis tools.
As of June 30, 2025, Midland States Bancorp reported total assets of approximately $7.11 billion, with its Wealth Management Group having assets under administration of approximately $4.18 billion. The bank maintains a market capitalization of $359 million, positioning it as a regional banking player.
The Effingham, Illinois-based financial holding company provides commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services.
In other recent news, Midland States Bancorp has seen several significant developments. Piper Sandler has raised its price target for Midland States Bancorp to $21.00 from $18.00, maintaining a Neutral rating. This adjustment follows the company’s recent filing of its 2024 10-K, which included updates for the first half of 2025 and restated results from previous years due to accounting adjustments. Additionally, the company has received a deficiency notification from the Nasdaq Stock Market for not filing its annual and quarterly financial reports on time. The notice cites non-compliance with Nasdaq Listing Rule 5250(c)(1) but does not currently affect the trading of its shares on the Nasdaq Global Select Market. Furthermore, Sherina M. Edwards has resigned from Midland States Bancorp’s Board of Directors, effective immediately. Her resignation was filed with the Securities and Exchange Commission without any stated disagreements with the company. The company has not yet announced a replacement for Edwards on the Board.
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