For the quarter ended December 2023, Midland States Bancorp (MSBI - Free Report) reported revenue of $78.59 million, down 19.3% over the same period last year. EPS came in at $0.89, compared to $0.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $75.65 million, representing a surprise of +3.89%. The company delivered an EPS surprise of +12.66%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Midland States Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 55.2% versus 58.1% estimated by two analysts on average.
- Average Interest-Earning Assets: $7.20 billion compared to the $7.29 billion average estimate based on two analysts.
- Net charge-offs to average loans: 0.3% compared to the 0.2% average estimate based on two analysts.
- Net Interest Margin: 3.2% versus 3.2% estimated by two analysts on average.
- Wealth management revenue: $6.60 million versus $6.19 million estimated by two analysts on average.
- Interchange revenue: $3.59 million versus the two-analyst average estimate of $3.82 million.
- Net Interest Income (FTE)/Adjusted net interest income: $58.26 million versus the two-analyst average estimate of $58.55 million.
- Other non-interest (loss) income: $7.76 million versus the two-analyst average estimate of $3.50 million.
- Service charges on deposit accounts: $3.25 million versus $2.95 million estimated by two analysts on average.
- Total Noninterest Income: $20.51 million compared to the $17.18 million average estimate based on two analysts.
View all Key Company Metrics for Midland States Bancorp here>>>Shares of Midland States Bancorp have returned -4.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
For the quarter ended December 2023, Midland States Bancorp (MSBI - Free Report) reported revenue of $78.59 million, down 19.3% over the same period last year. EPS came in at $0.89, compared to $0.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $75.65 million, representing a surprise of +3.89%. The company delivered an EPS surprise of +12.66%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Midland States Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 55.2% versus 58.1% estimated by two analysts on average.
- Average Interest-Earning Assets: $7.20 billion compared to the $7.29 billion average estimate based on two analysts.
- Net charge-offs to average loans: 0.3% compared to the 0.2% average estimate based on two analysts.
- Net Interest Margin: 3.2% versus 3.2% estimated by two analysts on average.
- Wealth management revenue: $6.60 million versus $6.19 million estimated by two analysts on average.
- Interchange revenue: $3.59 million versus the two-analyst average estimate of $3.82 million.
- Net Interest Income (FTE)/Adjusted net interest income: $58.26 million versus the two-analyst average estimate of $58.55 million.
- Other non-interest (loss) income: $7.76 million versus the two-analyst average estimate of $3.50 million.
- Service charges on deposit accounts: $3.25 million versus $2.95 million estimated by two analysts on average.
- Total Noninterest Income: $20.51 million compared to the $17.18 million average estimate based on two analysts.
View all Key Company Metrics for Midland States Bancorp here>>>Shares of Midland States Bancorp have returned -4.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Get the latest research report on MSBI - FREE