Full text
Earnings transcript
Read the complete earnings call transcript.
MSBI
Midland States Bancorp, Inc.
$32.22
-0.08
(-0.25%)
| Exchange: | NASDAQ |
| Market Cap: | 668.633M |
| Shares Outstanding: | 14.849M |
Delayed data
About The Company
| Sector: | Financial ServicesView sector performance | |||||
| Industry: | Banks – RegionalView industry performance | |||||
| CEO: | Jeffrey G. Ludwig | |||||
| Full Time Employees: | 850 | |||||
| Address: |
| |||||
| Website: | https://www.midlandsb.com |
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 in Banking and Wealth Management segments. The company offers commercial loans; commercial real estate loans that include various property types, such as owner-occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, assisted living facilities, and farmland; construction and land development loans, including loans to small and midsized businesses to construct owner-user properties, loans to developers of commercial real estate investment properties and residential developments, and loans to individual clients for construction of single family homes; and residential real estate loans comprising first and second mortgage loans, and home equity lines of credit. It also provides commercial equipment leasing; depository products consisting of checking, savings, money market, certificates of deposits, and sweep accounts; and trust and wealth management products and services, such as financial and estate planning, trustee and custodial services, investment management, tax and insurance planning, business planning, corporate retirement plan consulting and administration, and retail brokerage services. The company was founded in 1881 and is headquartered in Effingham, Illinois.
Click to read more…
Revenue Segmentation
MSBI full analysis
Welcome to MARKETSNAP’s SWOT analysis for Midland States Bancorp, ticker MSBI. If you’re a long-term investor looking to dig into a regional banking player, you’ve come to the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for this company, while weaving in some key financials, recent news, and insights to help you decide if this stock fits your wealth-building strategy. Let’s dive right in and get a sense of what Midland States Bancorp is all about.…
Industry Peers
| TICKER | COMPANY | MKT CAP | P/E | FWD P/E | ROIC |
|---|---|---|---|---|---|
| MSBI | Midland States Bancorp, Inc. | 668.6M | 20.1 | 9.7 | 4.4% |
 CARE | Carter Bankshares, Inc. | 669.6M | 5.1 | 5.0 | 21.3% |
 RRBI | Red River Bancshares, Inc. | 666.8M | 14.5 | 13.9 | 11.4% |
 SUPV | Grupo Supervielle S.A. | 682.3M | — | 10.6 | -0.6% |
 AROW | Arrow Financial Corporation | 682.6M | 11.8 | 10.5 | 3.3% |
 PFIS | Peoples Financial Services Corp. | 683.7M | 12.0 | 10.8 | 19.0% |
EPS
Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.
Earnings Call
AI summary
Key takeaways
Short, structured highlights from the call so you can focus on what matters.
Log in to continue
Log in to read the full transcript and AI-generated earnings summaries.
Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 508,497 | 546,051 | 467,591 |
| Gross Profit | 257,658 | 235,937 | 268,304 |
| EBITDA | 100,683 | 60,056 | -91,291 |
| Operating Income | 87,962 | 46,900 | -103,243 |
| Net Income | 61,155 | 38,044 | -124,281 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 7,866,868 | 7,529,055 | 6,511,127 |
| Total Liabilities | 7,075,015 | 6,792,942 | 5,945,628 |
| Total Stockholders Equity | 791,853 | 710,847 | 565,499 |
| Total Debt | 604,411 | 386,954 | 432,057 |
| Cash and Cash Equivalents | 134,212 | 114,055 | 127,811 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 154,638 | 176,546 | 125,679 |
| Capital Expenditure | -8,731 | -6,901 | -5,346 |
| Free Cash Flow | 145,907 | 169,645 | 120,333 |
| Net Income | 75,460 | 38,044 | -124,281 |
| Net Change in Cash | -25,570 | -20,295 | -8,209 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 339,268 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 340,900 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 340,084 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 101,527.509 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 104,199.287 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 102,863.398 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 76,489.119 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 78,674.522 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 77,581.821 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 79,887.317 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 80,271.604 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 80,079.460 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 3.550 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 3.600 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 3.500 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 2 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
Log in to continue
Log in and subscribe to Full Access to see up to 5 years of analyst estimates.
Login — it's free(* All numbers are in thousands)
Current Key Metrics
Log in to continue
Log in to see all key valuation metrics and ratios for this symbol.
Login — it's freeForward P/E Ratios
Log in to continue
Log in with Full Access for forward P/E high/low estimates and the full multi-year table.
Login — it's freeSWOT Analysis
Strengths (preview)
- Record Financial Performance: As highlighted in the Q4 2022 earnings call summary, MSBI reported a record level of financial results, indicating robust revenue and profitability metrics for the period. This suggests effective operational management and a strong business model within the banking sector.
- Positive Earnings Growth: Key financial metrics such as net income and EPS from the income statements reflect consistent performance, with potential for sustained profitability compared to historical data. This is supported by strong operating cash flow figures from the cash flow statements.
- Asset Quality Focus: The earnings call emphasized a commitment to maintaining asset quality, which is critical for long-term stability in the financial sector and positions MSBI favorably against competitors facing asset quality challenges.
Log in with Research Access for Weaknesses, Opportunities, Threats, and the complete SWOT.
At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates MSBI intrinsic value between $10.44 – $22.97 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about MSBI valuation
Is Midland States Bancorp, Inc. (MSBI) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Midland States Bancorp, Inc. (MSBI) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is MSBI a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether MSBI trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is MSBI’s P/E ratio?
You can see MSBI’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for MSBI?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is MSBI a good long-term investment?
Whether MSBI fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
MSBI
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
-0.25
Trading Metrics:
| Open: | 32.49 | Previous Close: | 32.3 | |
| Day Low: | 32.18 | Day High: | 32.98 | |
| Year Low: | 14.24 | Year High: | 35.1 | |
| Price Avg 50: | 32.99 | Price Avg 200: | 27.59 | |
| Volume: | 133777 | Average Volume: | 176438 |
Log in to continue
Log in for multi-period charts (1W–5Y), period tabs, and the same layout as members.
Login — it's free
