Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
Upturn AI Summary - About
Midland States Bancorp, Inc.(MSBI)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for MSBI
09/25/2026: MSBI (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Midland States Bancorp is a Midwestern regional bank that provides commercial and retail banking, wealth management, and insurance services. The company is known for its relationship-based business model and diversified revenue streams, which help manage earnings stability. Its primary growth story revolves around selective acquisitions and expanding its fee-based wealth management services. However, it faces risks from geographic concentration, interest rate volatility, and fierce competition from both larger regional banks and digital challengers. The stock may suit value-oriented and dividend-seeking investors who can tolerate regional economic sensitivity. Key developments to monitor include net interest margin trends and the successful execution of digital upgrades.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers moderate growth potential through market expansion but is not a high-growth tech-style investment. |
| Momentum investor | Weak fit | This is a stable regional bank stock and typically lacks the rapid upward price movement sought by momentum strategies. |
| Value investor | Strong fit | The company often trades at valuations typical of regional banks, appealing to those looking for intrinsic value. |
| Dividend investor | Strong fit | The history of consistent quarterly dividend payments makes it suitable for income-focused portfolios. |
| Low-risk investor | Mixed fit | While more stable than growth stocks, the company remains subject to regional economic and interest rate risks. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium | The stock price is subject to fluctuations based on interest rate announcements and general bank sector trends. |
| Valuation risk | Medium | Current market valuations for regional banks are sensitive to shifting macroeconomic outlooks. |
| Competition risk | Medium / high | Regional banking faces intense competition from larger institutions and digital disruptors. |
| Business quality | Medium | The company maintains solid asset quality but operates in a highly regulated and cyclical industry. |
| Dividend income | Medium | Dividend sustainability depends on the company's ability to maintain sufficient earnings through various economic cycles. |
| Execution risk | Medium | Successfully integrating acquisitions and scaling digital services is key to long-term performance. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit 19.79% | Avg. Invested days 46 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 09/25/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 687.52M USD | Price to earnings Ratio 20.58 | 1Y Target Price 33.25 |
Price to earnings Ratio 20.58 | 1Y Target Price 33.25 | ||
Volume (30-day avg) 162.1K shares | Beta 0.64 | 52 Weeks Range 13.47 - 34.76 | Updated Date 09/25/2026 |
52 Weeks Range 13.47 - 34.76 | Updated Date 09/25/2026 | ||
Dividends yield (FY) 3.95% | Basic EPS (TTM) 1.61 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Net Interest Income | Interest earned on commercial and retail loans minus interest paid on deposits. | This is the primary way the bank earns money, by lending at higher rates than it pays to savers. |
| Fee-Based Services | Wealth management, trust services, and insurance commissions. | This provides a steadier stream of income that does not rely strictly on interest rate fluctuations. |
| Geographic Presence | Operations primarily across Illinois, Missouri, and surrounding Midwestern states. | The bank's health is tied closely to the economic strength of the Midwest region. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Valuation
Trailing PE 20.58 | Forward PE 8.22 | Enterprise Value 851.20M | Price to Sales(TTM) 2.4 |
Enterprise Value 851.20M | Price to Sales(TTM) 2.4 | ||
Enterprise Value to Revenue 3.66 | Enterprise Value to EBITDA - | Shares Outstanding 20.75M | Shares Floating 19.50M |
Shares Outstanding 20.75M | Shares Floating 19.50M | ||
Percent Insiders 8.17 | Percent Institutions 72.28 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Midland States Bancorp, Inc.
Exchange NASDAQ | Headquarters Effingham, IL, United States | ||
IPO Launch date 2016-05-24 | President, CEO & Vice Chairman Mr. Jeffrey G. Ludwig CPA | ||
Sector Financial Services | Industry Banks - Regional | Full time employees 839 | Website https://www.midlandsb.com |
Full time employees 839 | Website https://www.midlandsb.com | ||
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.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.