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Midland States Bancrop
(NASDAQ:MSBI)
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Rating:71Outperform
Price Target:
$38.00
▲(17.83% Upside)
Action:Upgraded
Date:08/05/26
MSBI scores as moderately attractive, led by improved financial health (profitability recovery with strong cash generation and manageable leverage) and strong technical momentum (price above key moving averages with positive MACD). The score is held back by shrinking revenue/earnings volatility and a valuation that looks only fair (P/E ~21) despite a supportive ~3.8% dividend, while corporate actions (dividend raise and larger buyback authorization) add a positive capital-return backdrop.
Positive Factors
Profitability and Cash Generation
The return to positive net income alongside consistently positive operating and free cash flow strengthens internal funding capacity. This supports investment in banking operations, absorbs credit costs, and improves resilience through changing regional-bank conditions.
Negative Factors
Declining Revenue and Loan Balances
Recent revenue contraction and lower total loans limit near-term earning-asset growth. Although management describes planned runoff and modest community-bank growth, sustained balance-sheet shrinkage could constrain net interest income and reduce operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and Cash Generation
The return to positive net income alongside consistently positive operating and free cash flow strengthens internal funding capacity. This supports investment in banking operations, absorbs credit costs, and improves resilience through changing regional-bank conditions.
Read all positive factors
Midland States Bancrop (MSBI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$687.72M
Dividend Yield3.99%
Average Volume (3M)139.99K
Price to Earnings (P/E)20.2
Beta (1Y)0.64
Revenue Growth-21.58%
EPS GrowthN/A
CountryUS
Employees850
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.60
Shares Outstanding20,752,111
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$33.00Price Target Upside2.33% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)3.14
Revenue Forecast (FY)$324.30M
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 in Banking and Wealth Mana...
How the Company Makes Money
Midland States Bancorp primarily makes money through its banking operations by earning net interest income and generating noninterest income. Net interest income is the spread between interest earned on interest-earning assets (such as commercial ...
Midland States Bancrop Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 442.94M | 467.59M | 546.05M | 508.50M | 436.51M | 313.23M |
| Gross Profit | 283.15M | 268.30M | 235.94M | 257.66M | 303.73M | 279.70M |
| EBITDA | 69.19M | -93.47M | 60.06M | 100.68M | 145.76M | 115.46M |
| Net Income | 43.02M | -124.28M | 38.04M | 61.16M | 100.24M | 81.32M |
Balance Sheet | ||||||
| Total Assets | 6.70B | 6.51B | 7.51B | 7.87B | 7.86B | 7.44B |
| Cash, Cash Equivalents and Short-Term Investments | 1.96B | 1.42B | 1.07B | 1.05B | 921.58M | 1.58B |
| Total Debt | 344.89M | 380.20M | 423.25M | 604.41M | 644.39M | 536.61M |
| Total Liabilities | 6.13B | 5.95B | 6.80B | 7.08B | 7.10B | 6.78B |
| Stockholders Equity | 569.69M | 565.50M | 710.85M | 791.85M | 758.57M | 663.84M |
Cash Flow | ||||||
| Free Cash Flow | 116.36M | 120.33M | 169.65M | 145.91M | 243.59M | 331.72M |
| Operating Cash Flow | 119.36M | 125.68M | 176.55M | 154.64M | 247.06M | 334.44M |
| Investing Cash Flow | 437.19M | 748.90M | 136.71M | -76.08M | -1.10B | -478.50M |
| Financing Cash Flow | -434.39M | -861.54M | -333.55M | -104.13M | 332.08M | 482.79M |
Midland States Bancrop Technical Analysis
Positive
32.25
Price Trends
31.18
Positive
28.16
Positive
24.04
Positive
Market Momentum
0.67
Positive
58.40
Neutral
13.41
Positive
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 32.25 is below the 20-day moving average (MA) of 32.99, above the 50-day MA of 31.18, and above the 200-day MA of 24.04, indicating a bullish trend. The MACD of 0.67 indicates Positive momentum. The RSI at 58.40 is Neutral, neither overbought nor oversold. The STOCH value of 13.41 is Positive, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $453.92M | 6.67 | 15.91% | 3.48% | -20.46% | -308.00% | |
76 Outperform | $537.55M | 12.09 | 13.95% | 1.29% | 9.03% | 108.77% | |
73 Outperform | $588.17M | 10.18 | 10.05% | 2.45% | 4.88% | 6.47% | |
72 Outperform | $608.28M | 13.22 | 10.18% | ― | 8.92% | 74.86% | |
71 Outperform | $687.72M | 20.19 | 7.55% | 3.97% | -21.58% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | $355.17M | 36.75 | 3.40% | ― | -10.98% | ― |
* Financial Sector Average
MSBI
Midland States Bancrop
32.31
15.90
96.92%
BMRC
Bank Of Marin Bancorp
27.13
4.90
22.07%
CIVB
Civista Bancshares
27.49
7.98
40.89%
SFST
Southern First Bancshares
62.51
20.55
48.98%
BWFG
Bankwell Financial Group
65.64
25.85
64.96%
BRBS
Blue Ridge Bankshares
3.94
0.95
31.77%
Midland States Bancrop Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Midland States Bancorp Raises Quarterly Dividend Again
Positive
Aug 4, 2026
On August 4, 2026, Midland States Bancorp, Inc. announced that its board had raised the quarterly cash dividend on common stock to $0.33 per share, a 3.1% increase from the prior $0.32, payable August 21 to shareholders of record on August 14. The...
Business Operations and StrategyFinancial Disclosures
Midland States Bancorp Highlights Strong Q2 2026 Performance
Positive
Jul 28, 2026
Midland States Bancorp, Inc. released an investor presentation in July 2026 outlining its strategy to build a high-performing, tech-forward community bank with $6.7 billion in assets, $4.2 billion in loans, $5.7 billion in deposits and $4.8 billio...
Business Operations and StrategyStock BuybackFinancial Disclosures
Midland States Bancorp Reports Strong Second-Quarter 2026 Results
Positive
Jul 23, 2026
Midland States Bancorp reported that on July 23, 2026, it released a slide presentation detailing its second quarter 2026 financial performance, highlighted by net income available to common shareholders of $17.7 million, or $0.82 per diluted shar...
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.