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.
Excellent balance sheet, good value and pays a dividend.
Share Price & News
How has Midland States Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MSBI's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: MSBI underperformed the US Banks industry which returned -27.6% over the past year.
Return vs Market: MSBI underperformed the US Market which returned 6.7% over the past year.
Price Volatility Vs. Market
How volatile is Midland States Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StWhat To Know Before Buying Midland States Bancorp, Inc. (NASDAQ:MSBI) For Its Dividend
1 month ago | Simply Wall StIs Now An Opportune Moment To Examine Midland States Bancorp, Inc. (NASDAQ:MSBI)?
1 month ago | Simply Wall StDoes Midland States Bancorp, Inc. (NASDAQ:MSBI) Have A Volatile Share Price?
Is Midland States Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MSBI ($13.75) is trading below our estimate of fair value ($14.99)
Significantly Below Fair Value: MSBI is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MSBI is good value based on its PE Ratio (7.8x) compared to the US Banks industry average (9.2x).
PE vs Market: MSBI is good value based on its PE Ratio (7.8x) compared to the US market (16.2x).
Price to Earnings Growth Ratio
PEG Ratio: MSBI is poor value based on its PEG Ratio (1.6x)
Price to Book Ratio
PB vs Industry: MSBI is good value based on its PB Ratio (0.5x) compared to the US Banks industry average (0.8x).
How is Midland States Bancorp forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MSBI's forecast earnings growth (4.8% per year) is above the savings rate (2.2%).
Earnings vs Market: MSBI's earnings (4.8% per year) are forecast to grow slower than the US market (22.9% per year).
High Growth Earnings: MSBI's earnings are forecast to grow, but not significantly.
Revenue vs Market: MSBI's revenue is expected to decline over the next 3 years (-0.3% per year).
High Growth Revenue: MSBI's revenue is forecast to decline over the next 3 years (-0.3% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MSBI's Return on Equity is forecast to be low in 3 years time (6.5%).
How has Midland States Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MSBI has a large one-off loss of $16.4M impacting its March 31 2020 financial results.
Growing Profit Margin: MSBI's current net profit margins (17.6%) are lower than last year (20.6%).
Past Earnings Growth Analysis
Earnings Trend: MSBI's earnings have grown significantly by 26.2% per year over the past 5 years.
Accelerating Growth: MSBI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MSBI had negative earnings growth (-16.1%) over the past year, making it difficult to compare to the Banks industry average (1.7%).
Return on Equity
High ROE: MSBI's Return on Equity (6.9%) is considered low.
How is Midland States Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: MSBI's Assets to Equity ratio (9.8x) is low.
Allowance for Bad Loans: MSBI has a low allowance for bad loans (66%).
Low Risk Liabilities: 83% of MSBI's liabilities are made up of primarily low risk sources of funding.
Loan Level: MSBI has an appropriate level of Loans to Assets ratio (70%).
Low Risk Deposits: MSBI's Loans to Deposits ratio (93%) is appropriate.
Level of Bad Loans: MSBI has an appropriate level of bad loans (1.3%).
What is Midland States Bancorp current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MSBI's dividend (7.78%) is higher than the bottom 25% of dividend payers in the US market (1.68%).
High Dividend: MSBI's dividend (7.78%) is in the top 25% of dividend payers in the US market (4.6%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MSBI has been paying a dividend for less than 10 years.
Growing Dividend: MSBI's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (56.6%), MSBI's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MSBI's dividends in 3 years are forecast to be covered by earnings (66.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jeff Ludwig (48yo)
Mr. Jeffrey G. Ludwig, also known as Jeff, CPA, serves as Chief Executive Officer at Midland States Bancorp, Inc. since January 1, 2019 and has been its Director since February 05, 2019. He serves as Vice ...
CEO Compensation Analysis
Compensation vs Market: Jeff's total compensation ($USD1.35M) is below average for companies of similar size in the US market ($USD2.16M).
Compensation vs Earnings: Jeff's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Chief Financial Officer||0.67yr||US$346.62k||0.023% $72.9k|
|Chief Accounting Officer & Controller||0.92yr||US$446.02k||0.049% $157.5k|
|Senior VP||9.75yrs||US$669.37k||0.090% $287.7k|
|Executive Vice President||1.5yrs||US$890.53k||0.21% $675.3k|
|Director of Operations||no data||no data||no data|
|Chief Information Officer||no data||no data||no data|
|Director of Marketing||no data||no data||no data|
|Senior Credit Officer & Manager of Retail and Business Banking||no data||no data||no data|
|North Senior Vice President of Banking||no data||no data||no data|
|South Senior Vice President of Banking||no data||no data||no data|
|President of Midland Equipment Finance||2.5yrs||no data||no data|
Experienced Management: MSBI's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
|Independent Director||8.42yrs||US$92.49k||0.055% $176.6k|
|Independent Director||4.67yrs||US$62.49k||0.0043% $13.6k|
|Independent Director||8.5yrs||US$72.18k||0.31% $977.5k|
|Chairman of the Board||14.5yrs||US$85.73k||1.56% $5.0m|
|Independent Director||15.5yrs||US$140.96k||0.14% $432.4k|
|Independent Director||18.5yrs||US$104.98k||0.44% $1.4m|
|Independent Director||8.5yrs||US$80.18k||0.59% $1.9m|
|Independent Director||5.5yrs||US$47.48k||0.095% $301.9k|
|Independent Director||1.67yrs||US$74.61k||0.00088% $2.8k|
Experienced Board: MSBI's board of directors are considered experienced (8.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MSBI insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Midland States Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Midland States Bancorp, Inc.
- Ticker: MSBI
- Exchange: NasdaqGS
- Founded: 1881
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$319.041m
- Shares outstanding: 23.20m
- Website: https://www.midlandsb.com
Number of Employees
- Midland States Bancorp, Inc.
- 1201 Network Centre Drive
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MSBI||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||May 2016|
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, Commercial FHA Origination and Servicing, and Other segments. The company accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposit, noninterest-bearing and interest-bearing demand deposits, and time deposits. It also offers commercial lending products, including owner occupied commercial real estate, commercial real estate investment, real estate construction, and multifamily loans, as well as loans to purchase farmland and finance agricultural production; business term loans, equipment financing, and lines of credit; and consumer installment loans for purchase of cars, boats, and other recreational vehicles, as well as appliances and other home improvement projects. In addition, the company provides residential first and second mortgage loans; home equity lines of credit; and commercial mortgage loans for multifamily and healthcare facilities. Further, it offers commercial equipment leasing, merchant, and treasury management services. Additionally, the company provides 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, 2019, it operated 67 banking offices in 48 communities. The company was founded in 1881 and is headquartered in Effingham, Illinois.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/14 00:00|
|End of Day Share Price||2020/07/13 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.