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Midland States Bancorp, Inc. logo

Midland States Bancorp, Inc.

MSBI

NASDAQFinancial ServicesBanks - Regional

Open in GoAI

Previous close

$32.85

+$0.32 · +0.98%

Aug 21, 4:00 PM ET

MSBI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

54

Fair Value

Momentum

65

Gaining

Sentiment

65

Bullish

Risk resilience

77

Moderate Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

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.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
US
CEO
Jeffrey G. Ludwig
Listed since
May 24, 2016
Employees
850

Market position

Day range

Current $32.85

52-week range

Current $32.85

Open
$32.98
Previous close
$32.53
Volume
256.77K
1.47× average
Average volume
174.72K
Average daily volume
Market cap
681.71M USD
Beta
0.64
Market reference 1
50-day average
$31.6856
+3.67% above average
200-day average
$24.8212
+32.35% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
715.57M USD
P/E (TTM)
20.53×
P/B (TTM)
1.22×
P/S (TTM)
1.54×
EV / EBITDA
-7.66×
Earnings yield
-26.86%
Free cash flow yield
26.01%
Dividend yield
3.93%

Profitability & efficiency

Gross margin
63.93%
Operating margin
13.09%
Net margin
9.71%
Return on equity
-21.98%
Return on assets
-1.91%
Return on invested capital
-9.48%

Financial health

Debt / equity
0.61×
Current ratio
0.26×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends101%55%8%-38%Gross margin, FY2021: 89.29%Gross margin, FY2022: 69.58%Gross margin, FY2023: 50.67%Gross margin, FY2024: 43.21%Gross margin, FY2025: 57.38%Operating margin, FY2021: 31.64%Operating margin, FY2022: 30.10%Operating margin, FY2023: 17.30%Operating margin, FY2024: 8.59%Operating margin, FY2025: -22.08%Net margin, FY2021: 25.96%Net margin, FY2022: 22.96%Net margin, FY2023: 12.03%Net margin, FY2024: 6.97%Net margin, FY2025: -26.58%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 89.29%. Gross margin FY2022 69.58%. Gross margin FY2023 50.67%. Gross margin FY2024 43.21%. Gross margin FY2025 57.38%. Operating margin FY2021 31.64%. Operating margin FY2022 30.10%. Operating margin FY2023 17.30%. Operating margin FY2024 8.59%. Operating margin FY2025 -22.08%. Net margin FY2021 25.96%. Net margin FY2022 22.96%. Net margin FY2023 12.03%. Net margin FY2024 6.97%. Net margin FY2025 -26.58%.

Income trends

Revenue

467.59M USD-14.37%

Operating income

−103.24M USD−150.14M USD

Net income

−124.28M USD−162.33M USD
Income trends across reported periods613.08M USD344.95M USD76.82M USD−191.31M USDRevenue, FY2021: 313.23M USDRevenue, FY2022: 436.51M USDRevenue, FY2023: 508.5M USDRevenue, FY2024: 546.05M USDRevenue, FY2025: 467.59M USDOperating income, FY2021: 99.11M USDOperating income, FY2022: 131.39M USDOperating income, FY2023: 87.96M USDOperating income, FY2024: 46.9M USDOperating income, FY2025: −103.24M USDNet income, FY2021: 81.32M USDNet income, FY2022: 100.24M USDNet income, FY2023: 61.16M USDNet income, FY2024: 38.04M USDNet income, FY2025: −124.28M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 313.23M USD. Revenue FY2022 436.51M USD. Revenue FY2023 508.5M USD. Revenue FY2024 546.05M USD. Revenue FY2025 467.59M USD. Operating income FY2021 99.11M USD. Operating income FY2022 131.39M USD. Operating income FY2023 87.96M USD. Operating income FY2024 46.9M USD. Operating income FY2025 −103.24M USD. Net income FY2021 81.32M USD. Net income FY2022 100.24M USD. Net income FY2023 61.16M USD. Net income FY2024 38.04M USD. Net income FY2025 −124.28M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue467.59M USD546.05M USD508.5M USD436.51M USD313.23M USD
Cost of goods sold199.29M USD310.11M USD250.84M USD132.78M USD33.54M USD
Gross profit268.3M USD235.94M USD257.66M USD303.73M USD279.7M USD
Selling, general, and administrative125.84M USD102.84M USD101.38M USD96.96M USD93.47M USD
Operating expenses371.55M USD189.04M USD169.7M USD172.34M USD180.59M USD
Interest income387.87M USD411.74M USD417.1M USD312.72M USD237.82M USD
Interest expense151.06M USD189.78M USD168.28M USD56.02M USD30.14M USD
Depreciation and amortization9.78M USD13.16M USD12.72M USD14.38M USD16.35M USD
Operating income−103.24M USD46.9M USD87.96M USD131.39M USD99.11M USD
Net income−124.28M USD38.04M USD61.16M USD100.24M USD81.32M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
40%
4 beats, 6 misses, 0 met estimates
Average EPS surprise
-16.89%
10 comparable reports
Latest EPS result
0.82
Estimate 0.78 · Beat by 4.86%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.940.70.450.2Q2 '25MissQ3 '25MissQ3 '25No estimateQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q2 2025, reported Apr 30, 2025: actual 0.57, estimate 0.625, surprise -8.80%, Miss. Q3 2025, reported Jul 24, 2025: actual 0.44, estimate 0.63, surprise -30.16%, Miss. Q3 2025, reported Sep 8, 2025: actual 0.551, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 30, 2025: actual 0.24, estimate 0.61, surprise -60.66%, Miss. Q1 2026, reported Jan 22, 2026: actual 0.53, estimate 0.7, surprise -24.29%, Miss. Q2 2026, reported Apr 23, 2026: actual 0.76, estimate 0.6, surprise +26.67%, Beat. Q3 2026, reported Jul 23, 2026: actual 0.82, estimate 0.782, surprise +4.86%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 0.89, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates122.81M102.86M82.92M62.98MQ2 '25BeatQ3 '25MissQ3 '25No estimateQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q2 2025, reported Apr 30, 2025: actual 75.86M USD, estimate 75.22M USD, surprise +0.85%, Beat. Q3 2025, reported Jul 24, 2025: actual 67.7M USD, estimate 76.73M USD, surprise -11.77%, Miss. Q3 2025, reported Sep 8, 2025: actual 118.08M USD, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 30, 2025: actual 78.14M USD, estimate 79.19M USD, surprise -1.33%, Miss. Q1 2026, reported Jan 22, 2026: actual 85.79M USD, estimate 74.05M USD, surprise +15.85%, Beat. Q2 2026, reported Apr 23, 2026: actual 81.1M USD, estimate 75.57M USD, surprise +7.32%, Beat. Q3 2026, reported Jul 23, 2026: actual 83.74M USD, estimate 80.7M USD, surprise +3.77%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 83.81M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$34.00

3.50% upside
Past 12 months12-month forecastHigh $35.00Average $34.00Low $33.00

Rating distribution

4 ratings

Limited analyst sample: 4 ratings. Interpret the distribution with caution.

Strong buy00%
Buy00%
Hold4100%
Sell00%
Strong sell00%

Recent analyst actions

4 institutions
Stephens & Co.maintainEqual Weight

MSBI news

seekingalpha.com

Midland States Bancorp: Improving Asset Quality Drives Earnings

Midland States Bancorp is rated buy, driven by improving asset quality and lower credit provisions supporting higher earnings. MSBI's 4% dividend yield and 26 consecutive years of dividend growth, alongside ongoing share…

Read source
seekingalpha.com

Midland States Bancorp: 7.7% Yielding Preferred Share From A Regional Bank

Midland States Bancorp's preferred shares now offer a 7.7% yield, supported by improved operating performance and conservative lending practices. MSBI's net interest margin reached a seven-year high of 3.98%, driven by…

Read source
seekingalpha.com

Dividend Champion, Contender, And Challenger Highlights: Week August 16

A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends. Companies with upcoming ex-dividend dates.

Read source
zacks.com

Should Value Investors Buy Midland States Bancorp (MSBI) Stock?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and…

Read source
zacks.com

New Strong Buy Stocks for August 7th

EDRY, OPBK, SUPN, MSBI and NXRT have been added to the Zacks Rank #1 (Strong Buy) List on August 7th, 2026.

Read source
zacks.com

Best Income Stocks to Buy for August 7th

NXRT, QUAD and MSBI made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 7th, 2026.

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.26

2025 complete year+12.5% since 2021

2026 partial: $0.97

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Aug 14, 2026

$0.33

Quarterly

Record Aug 14, 2026 · Payment Aug 21, 2026

Dividend

Ex-dividend May 15, 2026

$0.32

Quarterly

Record May 15, 2026 · Payment May 22, 2026

Dividend

Ex-dividend Feb 13, 2026

$0.32

Quarterly

Record Feb 13, 2026 · Payment Feb 20, 2026

Dividend

Ex-dividend Nov 14, 2025

$0.32

Quarterly

Record Nov 14, 2025 · Payment Nov 21, 2025

Dividend

Ex-dividend Aug 15, 2025

$0.32

Quarterly

Record Aug 15, 2025 · Payment Aug 22, 2025

Dividend

Ex-dividend May 16, 2025

$0.31

Quarterly

Record May 16, 2025 · Payment May 23, 2025

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ETFs holding MSBI

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
19.83M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Avantis U.S. Small Cap Value ETF logoAvantis U.S. Small Cap Value ETFAVUV
Market value
16.99M
Weight
0.05%
AUM
31.27B USD
Expense ratio
0.25%
Price / 1D
$126.45+0.66%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
16.35M
Weight
0.02%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
8.05M
Weight
0.01%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
ProShares - Russell 2000 Dividend Growers ETF logoProShares - Russell 2000 Dividend Growers ETFSMDV
Market value
7.99M
Weight
1.07%
AUM
748.06M USD
Expense ratio
0.40%
Price / 1D
$76.94-0.01%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
6.02M
Weight
0.04%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
State Street SPDR S&P Regional Banking ETF logoState Street SPDR S&P Regional Banking ETFKRE
Market value
4.91M
Weight
0.12%
AUM
4.06B USD
Expense ratio
0.35%
Price / 1D
$74.86+0.20%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
3.69M
Weight
0.02%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%

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