Midland States Bancorp Inc. Common Stock (MSBI)

FairStock Score: 31/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at a bank first as a trust business. Midland States is a $667 million market-cap regional bank with 839 employees, so I start with its record. In FY2023, the period ended 2023-12-31, it earned $61.2 million, or $2.33 per diluted share. In FY2024, the period ended 2024-12-31, it earned $38.0 million, or $1.32. Then FY2025, the period ended 2025-12-31, produced a net loss of $124.3 million, or -$6.12 per share. That is why FairStock's Lynch category is TURNAROUND — loss in the latest year after earlier profits. The recovery is visible: in fiscal Q1 2026, the quarter ended 2026-03-31, net income was $18.5 million, or $0.74 per share, and in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $19.9 million, or $0.82 per share. But banks are opaque. The filed figures do not give CET1 capital, net interest margin, nonperforming loans, reserves, or charge-offs; combined ratio is an insurance measure and not meaningful here. At the 2026-10-13 close of $32.16, FairStock calculates a P/E of 20.62, P/B of 1.45, ROE of 7.52%, dividend yield of 4.10%, Piotroski F-Score of 7/9, PEG of 0.32, and FairStock Score of 31/100. A 7.5% ROE does not justify much above book in my view. The dividend is appealing if earnings hold, but the stock has already rerated within its 52-week range of $14.24 to $35.10. This is a speculative turnaround, not a wide-moat bargain.

In plain English: Midland States Bancorp is a small regional bank that serves individuals and businesses. It lost money in fiscal 2025 but has been profitable again in the first half of fiscal 2026, and it pays a solid dividend. The shares already trade well above their accounting value and near the top of their 52-week range, so the price looks fair to full rather than cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer