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Earnings transcript
Read the complete earnings call transcript.
MSBI
Midland States Bancorp, Inc.
$23
0.16
(0.7%)
| Exchange: | NASDAQ |
| Market Cap: | 493.722M |
| Shares Outstanding: | 14.849M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | Jeffrey G. Ludwig | |||||
| Full Time Employees: | 907 | |||||
| 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 through Banking, Wealth Management, and Other segments. The company accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits. It also offers term loans to purchase capital equipment; lines of credit for working capital and operational purposes; commercial real estate loans for owner occupied and non-owner occupied commercial property, as well as farmland loans; construction and land development loans developers of commercial real estate investment properties, residential developments, individual clients for construction of single family homes, as well as to construct owner-user properties; and residential real estate loans and home equity lines of credit.. In addition, the company provides consumer installment loans for the purchase of cars, boats, and other recreational vehicles, as well as for the purchase of major appliances and other home improvement projects; commercial equipment leasing; and trust and wealth management products and services, including 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. As of December 31, 2021, it operated 52 full-service banking offices. The company was founded in 1881 and is headquartered in Effingham, Illinois.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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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 | 46,900 | -93,466 |
| 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 | 2027 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 313,673.962 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 314,787.357 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 314,230.660 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 49,342.659 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 49,517.803 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 49,430.231 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 57,293.846 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 64,426.784 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 59,815.800 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 73,860.698 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 74,122.869 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 73,991.783 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 2.750 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 2.950 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 2.620 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 4 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 4 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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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.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates MSBI intrinsic value between $51.05 – $115.15 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
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