Symbols / MSBI Stock $27.90 +0.98% Midland States Bancorp, Inc.

Financial Services • Banks - Regional • United States • NMS
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Stock Fundamentals
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Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. Jeffrey G. Ludwig CPA
Exch · Country NMS · United States
Market Cap 578.36M
Enterprise Value 1.05B
Income 25.43M
Sales 274.47M
FCF (ttm) —
Book/sh 21.54
Cash/sh 5.66
Employees 839
Insider 10d —
IPO May 24, 2016
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 105.83%
P/E 23.25
Forward P/E 8.91
PEG 1.41
P/S 2.11
P/B 1.30
P/C —
EV/EBITDA —
EV/Sales 3.82
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 1.20
EPS next Y 3.13
EPS Growth —
Revenue Growth 14.30%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-07-23
Earnings (prior) 2026-04-23
ROA 0.51%
ROE 6.22%
ROIC —
Gross Margin 0.00%
Oper. Margin 34.02%
Profit Margin 12.81%
Shs Outstand 20.73M
Shs Float 19.48M
Insider Own 8.22%
Instit Own 69.07%
Short Float 3.42%
Short Ratio 4.02
Short Interest 654.53K
52W High 28.53
vs 52W High -2.21%
52W Low 14.24
vs 52W Low 95.93%
Beta 0.65
Impl. Vol. 1.15%
Rel Volume 0.37
Avg Volume 147.03K
Volume 54.35K
Target (mean) $26.25
Tgt Median $26.00
Tgt Low $25.00
Tgt High $28.00
# Analysts 4
Recom Hold
Prev Close $27.63
Price $27.90
Change 0.98%
About

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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$26.25
Mean price target
2. Current target
$27.90
Latest analyst target
3. DCF / Fair value
$18.00
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$27.90
Low
$25.00
High
$28.00
Mean
$26.25

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-27 main DA Davidson Neutral → Neutral $26
2026-04-27 main Piper Sandler Neutral → Neutral $28
2026-01-26 main Piper Sandler Neutral → Neutral $26
2026-01-26 main DA Davidson Neutral → Neutral $24
2025-12-08 main Keefe, Bruyette & Woods Market Perform → Market Perform $19
2025-12-02 main Piper Sandler Neutral → Neutral $19
2025-11-04 main Piper Sandler Neutral → Neutral $18
2025-11-03 main Keefe, Bruyette & Woods Market Perform → Market Perform $17
2025-07-11 main Piper Sandler Neutral → Neutral $21
2025-05-02 main Keefe, Bruyette & Woods Market Perform → Market Perform $20
2025-01-28 main DA Davidson Neutral → Neutral $21
2025-01-28 main Piper Sandler Neutral → Neutral $23
2025-01-27 main Keefe, Bruyette & Woods Market Perform → Market Perform $23
2024-12-04 main Keefe, Bruyette & Woods Market Perform → Market Perform $28
2024-10-29 main Piper Sandler Neutral → Neutral $27
2024-07-30 main Piper Sandler Neutral → Neutral $27
2024-07-29 main Keefe, Bruyette & Woods Market Perform → Market Perform $24
2024-04-30 main Stephens & Co. Equal-Weight → Equal-Weight $27
2024-04-30 main Keefe, Bruyette & Woods Market Perform → Market Perform $26
2024-04-30 main Piper Sandler Neutral → Neutral $25
News
RSS: Latest MSBI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-12 STACK CLAIRE ANN Chief Financial Officer — 6,357 $27.53 $175,008
2026-05-05 FRANKLIN TRAVIS J. Director — 9,400 $26.49 $248,988
2026-03-31 LUDWIG JEFFREY G Chief Executive Officer — 909 $19.05 $17,316
2026-03-31 LUDWIG JEFFREY G Chief Executive Officer — 1,312 $19.05 $24,994
2026-03-31 JAMESON JEREMY ANDREW Officer — 751 $19.05 $14,307
2026-03-31 JAMESON JEREMY ANDREW Officer — 1,311 $19.05 $24,975
2026-01-28 MOONEY KYLE OWEN Chief Operating Officer — 2,808 $22.67 $63,657
2025-12-31 JAMESON JEREMY ANDREW Officer — 471 $21.17 $9,971
2025-12-03 SMITH JEFFREY C. Director — 500 $17.69 $8,845
2025-12-03 BINGHAM RICHARD DEAN Director — 5,000 $17.56 $87,800
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
290.36
-18.50%
356.27
+4.72%
340.22
-10.58%
380.49
Operating Revenue
290.36
-18.50%
356.27
+4.72%
340.22
-10.58%
380.49
Selling General And Administration
118.40
+15.12%
102.84
+1.45%
101.38
+4.55%
96.96
Selling And Marketing Expense
5.86
+49.29%
3.93
+24.32%
3.16
-4.82%
3.32
General And Administrative Expense
112.54
+13.77%
98.92
+0.71%
98.22
+4.89%
93.64
Salaries And Wages
104.40
+11.49%
93.64
+0.22%
93.44
+3.47%
90.31
Other Gand A
—
—
—
—
Reconciled Depreciation
11.95
-9.15%
13.16
+3.42%
12.72
-11.52%
14.38
Total Unusual Items
-154.66
-1868.20%
-7.86
0.00
+100.00%
-4.51
Total Unusual Items Excluding Goodwill
-154.66
-1868.20%
-7.86
0.00
+100.00%
-4.51
Special Income Charges
-154.66
-1868.20%
-7.86
0.00
+100.00%
-4.51
Other Special Charges
—
—
—
3.25
Impairment Of Capital Assets
154.66
+1868.20%
7.86
0.00
0.00
Write Off
—
0.00
0.00
-100.00%
1.26
Net Income
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Pretax Income
-114.87
-344.92%
46.90
-46.68%
87.96
-33.05%
131.39
Net Interest Income
236.80
+0.19%
236.35
-5.01%
248.82
-3.07%
256.69
Interest Expense
151.06
-20.40%
189.78
+12.78%
168.28
+200.39%
56.02
Interest Income
387.87
-8.98%
426.13
+2.16%
417.10
+33.38%
312.71
Gain On Sale Of Security
0.01
+106.09%
-0.23
+97.55%
-9.37
-154.17%
17.30
Tax Provision
9.41
+6.29%
8.86
-66.96%
26.81
-13.94%
31.15
Tax Rate For Calcs
0.00
+11.23%
0.00
-38.05%
0.00
+28.55%
0.00
Tax Effect Of Unusual Items
-32.48
-2089.20%
-1.48
0.00
+100.00%
-1.07
Net Income Including Noncontrolling Interests
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Net Income From Continuing Operation Net Minority Interest
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Net Income From Continuing And Discontinued Operation
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Net Income Continuous Operations
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Normalized Income
-2.10
-104.73%
44.42
-27.37%
61.16
-41.02%
103.68
Net Income Common Stockholders
-133.73
-566.79%
28.65
-44.47%
51.59
-46.23%
95.95
Otherunder Preferred Stock Dividend
0.53
+10.14%
0.48
-25.69%
0.65
-41.86%
1.12
Diluted EPS
1.01
+196.19%
-1.05
-145.06%
2.33
-45.56%
4.28
Basic EPS
1.03
+198.20%
-1.05
-145.06%
2.33
-45.69%
4.29
Basic Average Shares
21.90
+2.91%
21.28
-3.78%
22.12
-1.01%
22.34
Diluted Average Shares
21.90
+0.74%
21.74
-1.75%
22.12
-1.21%
22.40
Diluted NI Availto Com Stockholders
-133.73
-566.79%
28.65
-44.47%
51.59
-46.23%
95.95
Average Dilution Earnings
0.00
0.00
0.00
-100.00%
0.00
Amortization
3.22
-19.56%
4.01
-15.76%
4.76
-12.05%
5.41
Amortization Of Intangibles Income Statement
3.22
-19.56%
4.01
-15.76%
4.76
-12.05%
5.41
Depreciation Amortization Depletion Income Statement
3.22
-19.56%
4.01
-15.76%
4.76
-12.05%
5.41
Depreciation And Amortization In Income Statement
3.22
-19.56%
4.01
-15.76%
4.76
-12.05%
5.41
Insurance And Claims
8.14
+54.15%
5.28
+10.44%
4.78
+43.26%
3.34
Occupancy And Equipment
17.22
+2.61%
16.79
+5.00%
15.99
+7.71%
14.84
Other Non Interest Expense
42.01
-15.52%
49.72
+22.68%
40.53
-7.28%
43.71
Preferred Stock Dividends
8.91
+0.00%
8.91
+0.00%
8.91
+181.26%
3.17
Professional Expense And Contract Services Expense
9.87
+26.20%
7.82
+10.97%
7.05
+2.06%
6.91
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
6,513.42
-13.23%
7,506.81
-3.64%
7,790.05
-0.83%
7,855.50
Cash And Cash Equivalents
127.28
+11.59%
114.06
-15.02%
134.21
-12.48%
153.34
Other Short Term Investments
1,291.82
+6.98%
1,207.57
+31.85%
915.89
+19.22%
768.23
Receivables
71.62
-82.19%
402.08
-18.70%
494.54
-3.42%
512.06
Accounts Receivable
23.82
-5.94%
25.33
-25.79%
34.13
+68.04%
20.31
Other Receivables
47.80
-87.31%
376.75
-18.17%
460.41
-6.37%
491.74
Net PPE
85.13
-0.67%
85.71
+3.50%
82.81
+5.77%
78.29
Gross PPE
148.71
+2.81%
144.64
+5.16%
137.54
+6.69%
128.92
Accumulated Depreciation
-63.57
-7.88%
-58.93
-7.67%
-54.73
-8.09%
-50.63
Land And Improvements
15.86
-0.81%
15.99
+0.11%
15.97
-0.22%
16.00
Buildings And Improvements
86.43
+3.76%
83.30
+6.65%
78.10
+8.72%
71.84
Machinery Furniture Equipment
38.30
+4.87%
36.53
+2.04%
35.80
+5.04%
34.08
Other Properties
8.12
-8.07%
8.83
+15.08%
7.67
+9.60%
7.00
Goodwill And Other Intangible Assets
28.73
-85.02%
191.85
-3.24%
198.26
+7.77%
183.97
Goodwill
7.93
-95.10%
161.90
+0.00%
161.90
+0.00%
161.90
Other Intangible Assets
20.81
-30.51%
29.94
-17.65%
36.36
+64.75%
22.07
Investments And Advances
1,559.83
+25.18%
1,246.09
+29.29%
963.82
+17.10%
823.06
Total Liabilities Net Minority Interest
5,947.92
-12.48%
6,795.96
-3.94%
7,074.93
-0.31%
7,096.93
Payables And Accrued Expenses
—
124.27
+12.58%
110.38
+37.60%
80.22
Payables
—
124.27
+12.58%
110.38
+37.60%
80.22
Accounts Payable
—
124.27
+12.58%
110.38
+37.60%
80.22
Current Debt And Capital Lease Obligation
60.18
-31.22%
87.50
-56.44%
200.87
+41.15%
142.31
Current Debt
60.18
-31.22%
87.50
-56.44%
200.87
+41.15%
142.31
Other Current Borrowings
60.18
-31.22%
87.50
-56.44%
200.87
+41.15%
142.31
Long Term Debt And Capital Lease Obligation
320.02
-4.69%
335.75
-16.80%
403.55
-12.23%
459.77
Long Term Debt
320.02
-4.69%
335.75
-16.80%
403.55
-12.23%
459.77
Long Term Capital Lease Obligation
—
—
—
—
Preferred Securities Outside Stock Equity
51.86
+1.27%
51.20
+1.16%
50.62
+1.28%
49.98
Stockholders Equity
565.50
-20.45%
710.85
-0.60%
715.11
-5.73%
758.57
Common Stock Equity
454.95
-24.21%
600.30
-0.71%
604.57
-6.71%
648.03
Capital Stock
110.76
0.00%
110.76
0.00%
110.76
-0.01%
110.77
Common Stock
0.21
-1.40%
0.21
-0.46%
0.22
-2.70%
0.22
Preferred Stock
110.55
+0.00%
110.55
+0.00%
110.55
+0.00%
110.55
Share Issued
21.17
-1.51%
21.49
-0.26%
21.55
-2.99%
22.21
Ordinary Shares Number
21.17
-1.51%
21.49
-0.26%
21.55
-2.99%
22.21
Additional Paid In Capital
428.25
-1.40%
434.35
-0.26%
435.46
-3.06%
449.20
Retained Earnings
86.83
-64.95%
247.70
+0.84%
245.64
-13.02%
282.40
Gains Losses Not Affecting Retained Earnings
-60.33
+26.39%
-81.96
-6.78%
-76.75
+8.41%
-83.80
Total Equity Gross Minority Interest
565.50
-20.45%
710.85
-0.60%
715.11
-5.73%
758.57
Total Capitalization
885.52
-15.39%
1,046.60
-6.44%
1,118.66
-8.18%
1,218.35
Invested Capital
835.15
-18.41%
1,023.55
-15.34%
1,208.98
-3.29%
1,250.11
Total Debt
380.20
-10.17%
423.25
-29.97%
604.41
+0.39%
602.08
Net Debt
252.92
-18.20%
309.19
-34.24%
470.20
+4.78%
448.74
Capital Lease Obligations
—
—
—
—
Net Tangible Assets
536.76
+3.42%
519.00
+0.42%
516.85
-10.05%
574.60
Tangible Book Value
426.22
+4.35%
408.45
+0.53%
406.30
-12.44%
464.05
Available For Sale Securities
268.02
+595.88%
38.52
-19.63%
47.92
-12.59%
54.83
Cash Cash Equivalents And Federal Funds Sold
127.81
+11.37%
114.77
-15.03%
135.06
-15.92%
160.63
Preferred Shares Number
4.60
+0.00%
4.60
+0.00%
4.60
+0.00%
4.60
Preferred Stock Equity
110.55
+0.00%
110.55
+0.00%
110.55
+0.00%
110.55
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
125.68
-28.81%
176.55
+15.12%
153.36
-46.34%
285.82
Cash Flow From Continuing Operating Activities
125.68
-28.81%
176.55
+15.12%
153.36
-46.34%
285.82
Net Income From Continuing Operations
-124.28
-426.68%
38.04
-37.79%
61.16
-38.99%
100.24
Depreciation Amortization Depletion
11.95
-9.15%
13.16
+3.42%
12.72
-11.52%
14.38
Depreciation
6.46
-2.83%
6.65
+3.70%
6.41
-3.90%
6.67
Amortization Cash Flow
5.49
-15.62%
6.51
+3.14%
6.31
-18.12%
7.70
Depreciation And Amortization
11.95
-9.15%
13.16
+3.42%
12.72
-11.52%
14.38
Amortization Of Intangibles
5.49
-15.62%
6.51
+3.14%
6.31
-18.12%
7.70
Other Non Cash Items
46.70
+554.61%
-10.27
-64.12%
-6.26
-104.75%
131.88
Stock Based Compensation
2.91
-3.89%
3.03
+21.78%
2.49
+12.57%
2.21
Asset Impairment Charge
154.66
+1115.51%
12.72
0.00
-100.00%
5.54
Operating Gains Losses
-2.59
-12.31%
-2.31
-136.63%
6.30
+142.30%
-14.89
Gain Loss On Investment Securities
-0.01
-106.09%
0.23
-97.55%
9.37
+3974.78%
0.23
Change In Working Capital
-9.82
-213.87%
8.63
+370.05%
-3.19
+90.20%
-32.61
Change In Receivables
1.50
-82.91%
8.80
+301.93%
-4.36
-201.10%
-1.45
Changes In Account Receivables
1.50
-82.91%
8.80
+301.93%
-4.36
-201.10%
-1.45
Change In Payables And Accrued Expense
-40.06
-322.28%
18.02
-34.65%
27.58
+303.10%
-13.58
Change In Accrued Expense
-40.06
-322.28%
18.02
-34.65%
27.58
+303.10%
-13.58
Change In Other Current Assets
28.73
+257.87%
-18.20
+31.10%
-26.41
-50.26%
-17.58
Investing Cash Flow
748.90
+447.81%
136.71
+282.76%
-74.80
+93.42%
-1,137.64
Cash Flow From Continuing Investing Activities
748.90
+447.81%
136.71
+282.76%
-74.80
+93.42%
-1,137.64
Net PPE Purchase And Sale
-5.35
+22.12%
-6.86
+20.44%
-8.63
-161.82%
-3.29
Purchase Of PPE
-5.35
+22.53%
-6.90
+20.96%
-8.73
-151.61%
-3.47
Sale Of PPE
0.00
-100.00%
0.04
-64.42%
0.10
-40.57%
0.17
Capital Expenditure
-5.35
+22.53%
-6.90
+20.96%
-8.73
-151.61%
-3.47
Net Investment Purchase And Sale
-269.21
+6.54%
-288.06
-107.40%
-138.89
-840.37%
18.76
Purchase Of Investment
-809.21
-4.08%
-777.49
-19.12%
-652.68
-199.88%
-217.65
Sale Of Investment
540.00
+10.33%
489.43
-4.74%
513.79
+117.33%
236.41
Net Business Purchase And Sale
—
0.00
0.00
-100.00%
60.27
Net Other Investing Changes
6.03
+1193.56%
0.47
+101.14%
-41.06
-1481.89%
2.97
Financing Cash Flow
-861.54
-158.29%
-333.55
-220.33%
-104.13
-131.36%
332.08
Cash Flow From Continuing Financing Activities
-861.54
-158.29%
-333.55
-220.33%
-104.13
-131.36%
332.08
Net Issuance Payments Of Debt
-43.07
+76.22%
-181.13
-6786.19%
2.71
-96.40%
75.34
Issuance Of Debt
328.00
+24.71%
263.00
+22.33%
215.00
0.00
Repayment Of Debt
-323.75
+2.12%
-330.76
-972.34%
-30.84
+77.99%
-140.17
Long Term Debt Issuance
328.00
+24.71%
263.00
+22.33%
215.00
0.00
Long Term Debt Payments
-323.75
+2.12%
-330.76
-972.34%
-30.84
+77.99%
-140.17
Net Long Term Debt Issuance
4.25
+106.27%
-67.76
-136.80%
184.16
+231.38%
-140.17
Net Short Term Debt Issuance
-47.32
+58.26%
-113.37
+37.52%
-181.45
-184.19%
215.51
Net Common Stock Issuance
-9.66
-76.40%
-5.47
+69.41%
-17.90
-1513.89%
-1.11
Common Stock Payments
-9.66
-76.40%
-5.47
+69.41%
-17.90
-1513.89%
-1.11
Common Stock Dividend Paid
-27.68
-2.24%
-27.07
-1.88%
-26.57
-2.51%
-25.92
Cash Dividends Paid
-36.59
-1.69%
-35.98
-1.41%
-35.49
-21.98%
-29.09
Repurchase Of Capital Stock
-9.66
-76.40%
-5.47
+69.41%
-17.90
-1513.89%
-1.11
Proceeds From Stock Option Exercised
0.64
-51.51%
1.33
-20.60%
1.67
-23.67%
2.19
Net Other Financing Charges
—
—
—
—
Changes In Cash
13.04
+164.28%
-20.30
+20.63%
-25.57
+95.08%
-519.74
Beginning Cash Position
114.77
-15.03%
135.06
-15.92%
160.63
-76.39%
680.37
End Cash Position
127.81
+11.37%
114.77
-15.03%
135.06
-15.92%
160.63
Free Cash Flow
120.33
-29.07%
169.65
+17.30%
144.63
-48.78%
282.35
Interest Paid Supplemental Data
156.58
-17.41%
189.60
+19.14%
159.14
+188.98%
55.07
Income Tax Paid Supplemental Data
1.58
-92.99%
22.54
-10.26%
25.12
-31.20%
36.51
Amortization Of Securities
-13.70
-101.74%
-6.79
-181.23%
-2.41
-204.46%
2.31
Issuance Of Capital Stock
—
0.00
0.00
-100.00%
110.55
Net Preferred Stock Issuance
—
0.00
0.00
-100.00%
110.55
Preferred Stock Dividend Paid
-8.91
+0.00%
-8.91
+0.00%
-8.91
-181.26%
-3.17
Preferred Stock Issuance
—
0.00
0.00
-100.00%
110.55
Preferred Stock Payments
—
—
—
—
Sale Of Business
—
0.00
0.00
-100.00%
60.27
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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