Midland States Bancrop (MSBI)
NASDAQ:MSBI
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Midland States Bancrop
(NASDAQ:MSBI)
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Rating:69Neutral
Price Target:
$28.00
▲(17.70% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by improving financial performance with strong cash generation, supported by attractive valuation (low P/E and strong dividend yield). Technicals show an uptrend but appear overextended (RSI/Stoch elevated), tempering the overall rating, while corporate events add a modest positive tailwind.
Positive Factors
Cash generation
Sustained TTM operating and free cash flow provide durable internal funding for dividends, loan growth, and loss absorption. Strong FCF relative to net income improves financial flexibility, lowers reliance on external funding, and supports capital return over the next several quarters.
Negative Factors
Revenue decline
Material top-line contraction reduces the bank's ability to generate sustainable net interest and fee income. Persistently lower revenue limits operating leverage, forces tight cost controls, and makes it harder to rebuild margins and ROE without clear loan growth or new fee streams.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained TTM operating and free cash flow provide durable internal funding for dividends, loan growth, and loss absorption. Strong FCF relative to net income improves financial flexibility, lowers reliance on external funding, and supports capital return over the next several quarters.
Read all positive factors
Midland States Bancrop (MSBI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$538.35M
Dividend Yield5.87%
Average Volume (3M)139.99K
Price to Earnings (P/E)6.4
Beta (1Y)0.70
Revenue Growth-19.77%
EPS GrowthN/A
CountryUS
Employees907
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.21
Shares Outstanding20,729,800
10 Day Avg. Volume153,914
30 Day Avg. Volume139,988
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.82
Price to Sales (P/S)0.99
P/FCF Ratio3.84
Enterprise Value/Market Cap1.70
Enterprise Value/Revenue2.04
Enterprise Value/Gross Profit3.41
Enterprise Value/Ebitda17.27
Forecast
1Y Price Target
$25.50Price Target Upside7.19% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)2.65
Revenue Forecast (FY)$307.69M
Midland States Bancrop Business Overview & Revenue Model
Company Description
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 Ma...
How the Company Makes Money
Midland States Bancorp primarily makes money through its banking subsidiary by earning interest and fees from financial products and services.
1) Net interest income (core earnings): The largest driver is typically the spread between (a) interest...
Midland States Bancrop Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 449.08M | 467.59M | 546.05M | 508.50M | 436.51M | 313.23M |
| Gross Profit | 268.10M | 268.30M | 235.94M | 257.66M | 303.73M | 279.70M |
| EBITDA | 52.96M | -93.47M | 46.90M | 100.68M | 145.76M | 115.46M |
| Net Income | 35.16M | -124.28M | 38.04M | 61.16M | 100.24M | 81.32M |
Balance Sheet | ||||||
| Total Assets | 6.55B | 6.51B | 7.51B | 7.87B | 7.86B | 7.44B |
| Cash, Cash Equivalents and Short-Term Investments | 1.45B | 1.42B | 1.07B | 1.05B | 921.58M | 1.58B |
| Total Debt | 418.45M | 380.20M | 423.25M | 604.41M | 644.39M | 536.61M |
| Total Liabilities | 5.99B | 5.95B | 6.80B | 7.08B | 7.10B | 6.78B |
| Stockholders Equity | 558.95M | 565.50M | 710.85M | 791.85M | 758.57M | 663.84M |
Cash Flow | ||||||
| Free Cash Flow | 115.95M | 120.33M | 169.65M | 145.91M | 243.59M | 331.72M |
| Operating Cash Flow | 117.95M | 125.68M | 176.55M | 154.64M | 247.06M | 334.44M |
| Investing Cash Flow | 641.09M | 748.90M | 136.71M | -76.08M | -1.10B | -478.50M |
| Financing Cash Flow | -747.38M | -861.54M | -333.55M | -104.13M | 332.08M | 482.79M |
Midland States Bancrop Technical Analysis
Positive
23.79
Price Trends
22.51
Positive
21.63
Positive
19.13
Positive
Market Momentum
0.53
Negative
61.64
Neutral
47.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MSBI, the sentiment is Positive. The current price of 23.79 is above the 20-day moving average (MA) of 22.92, above the 50-day MA of 22.51, and above the 200-day MA of 19.13, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 61.64 is Neutral, neither overbought nor oversold. The STOCH value of 47.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MSBI.
Midland States Bancrop Risk Analysis
Midland States Bancrop disclosed 38 risk factors in its most recent earnings report. Midland States Bancrop reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Midland States Bancrop Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $510.43M | 7.87 | 10.21% | 2.96% | 4.52% | 19.77% | |
69 Neutral | $538.35M | 6.43 | 6.16% | 5.87% | -19.77% | ― | |
69 Neutral | $528.73M | 11.25 | 9.65% | ― | 6.94% | 90.92% | |
68 Neutral | $417.37M | 11.99 | 11.26% | 3.76% | -30.41% | -412.21% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $402.88M | 8.31 | 13.31% | 1.66% | 7.75% | 220.19% | |
49 Neutral | $306.90M | 110.96 | 3.15% | ― | -10.96% | ― |
* Financial Sector Average
MSBI
Midland States Bancrop
25.97
9.36
56.40%
BMRC
Bank Of Marin Bancorp
25.78
5.49
27.05%
CIVB
Civista Bancshares
24.64
2.84
13.02%
SFST
Southern First Bancshares
55.92
20.19
56.51%
BWFG
Bankwell Financial Group
50.53
17.73
54.07%
BRBS
Blue Ridge Bankshares
3.36
0.55
19.49%
Midland States Bancrop Corporate Events
Business Operations and StrategyFinancial Disclosures
Midland States Bancorp Shares First-Quarter 2026 Results
Neutral
Apr 23, 2026
On April 23, 2026, Midland States Bancorp posted a slide presentation on its website detailing the company’s financial results for the first quarter of 2026. By making the materials available online as supplemental information rather than as...
Executive/Board Changes
Midland States Bancorp Names Interim Chief Financial Officer
Neutral
Mar 6, 2026
On March 5, 2026, Midland States Bancorp terminated Eric Lemke as Chief Financial Officer of the company and Midland States Bank, removing him from his roles as principal financial officer and principal accounting officer. On the same date, the bo...
Business Operations and StrategyExecutive/Board Changes
Midland States Bancorp adds director amid new investments
Positive
Feb 4, 2026
On February 3, 2026, Midland States Bancorp expanded its board to 11 directors, appointing Patriot Financial Partners senior partner James F. Deutsch as a Class II director through the 2027 annual meeting and to the subsidiary bank board, expectin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.