Our analysis is based on comparing Midland States Bancorp, Inc. with the following peers – National Bank Holdings Corporation Class A, Northeast Bancorp, NBT Bancorp Inc. and National Bank of Greece S.A. (NBHC-US, NBN-US, NBTB-US and NBGIF-US).
Midland States Bancorp, Inc.’s dividend yield is 2.56 percent and its dividend payout is 38.97 percent. This compares to a peer median dividend yield of 1.78 percent and a payout level of 21.71 percent. This type of dividend performance might make it a good stock for dividend investors. However, the company’s average dividend quality score of 58 out of a possible score of 100, points to some weakness in the sustainability of its robust payout ratio, and makes its less attractive for dividend investors seeking current income.
Dividend Quality Overview
- Over the last twelve months (prior to June 30, 2017), MSBI-US paid a medium quality dividend, which represents a yield of 2.50% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during 3 of these years — of these 1 was medium quality and 2 were low quality.
- The ending cash balance, with a dividend coverage of 20.55x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
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Over the last twelve months (prior to June 30, 2017), MSBI-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.19x), investing cash flow (coverage of -17.02x), issuance cash flow (coverage of 29.88x) and twelve-month prior cash (coverage of 7.58x), for a total dividend coverage of 21.55x.
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||N/A||N/A||N/A||N/A||1.76||2.56|
|Dividend Payout (%)||N/A||N/A||N/A||N/A||16.59||38.97|
A complete list of metrics and analysis is available on the company page.
Midland States Bancorp, Inc. is a banking holding company. It operates through the following business segments: Banking, Commercial Federal Housing Administration Origination and Servicing, and Other. The Banking segment provides financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services. The Commercial Federal Housing Administration Origination and Servicing segment refers to origination and servicing of government sponsored mortgages for multifamily and healthcare facilities. The Other segment includes operating results of the parent company and wealth management business unit. The company was founded in 1988 and is headquartered in Effingham, IL.
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