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Midland States Bancorp (MSBI) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2023, Midland States Bancorp (MSBI - Free Report) reported revenue of $77.59 million, up 2.2% over the same period last year. EPS came in at $0.87, compared to $0.98 in the year-ago quarter.
The reported revenue represents a surprise of +0.38% over the Zacks Consensus Estimate of $77.3 million. With the consensus EPS estimate being $0.83, the EPS surprise was +4.82%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 55.01% versus the two-analyst average estimate of 56.64%.
Average Interest-Earning Assets: $7.33 billion versus $7.32 billion estimated by two analysts on average.
Net charge-offs to average loans: 0.19% versus the two-analyst average estimate of 0.2%.
Net Interest Margin: 3.23% compared to the 3.33% average estimate based on two analysts.
Residential mortgage banking revenue: $0.54 million compared to the $0.68 million average estimate based on two analysts.
Wealth management revenue: $6.27 million compared to the $6.65 million average estimate based on two analysts.
Net Interest Income (FTE)/Adjusted net interest income: $59.04 million compared to the $60.85 million average estimate based on two analysts.
Total Noninterest Income: $18.75 million compared to the $16.58 million average estimate based on two analysts.
Service charges on deposit accounts: $2.68 million versus the two-analyst average estimate of $2.68 million.
Interchange revenue: $3.70 million versus the two-analyst average estimate of $3.25 million.
Shares of Midland States Bancorp have returned +17.1% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Midland States Bancorp (MSBI) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, Midland States Bancorp (MSBI - Free Report) reported revenue of $77.59 million, up 2.2% over the same period last year. EPS came in at $0.87, compared to $0.98 in the year-ago quarter.
The reported revenue represents a surprise of +0.38% over the Zacks Consensus Estimate of $77.3 million. With the consensus EPS estimate being $0.83, the EPS surprise was +4.82%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 55.01% versus the two-analyst average estimate of 56.64%.
- Average Interest-Earning Assets: $7.33 billion versus $7.32 billion estimated by two analysts on average.
- Net charge-offs to average loans: 0.19% versus the two-analyst average estimate of 0.2%.
- Net Interest Margin: 3.23% compared to the 3.33% average estimate based on two analysts.
- Residential mortgage banking revenue: $0.54 million compared to the $0.68 million average estimate based on two analysts.
- Wealth management revenue: $6.27 million compared to the $6.65 million average estimate based on two analysts.
- Net Interest Income (FTE)/Adjusted net interest income: $59.04 million compared to the $60.85 million average estimate based on two analysts.
- Total Noninterest Income: $18.75 million compared to the $16.58 million average estimate based on two analysts.
- Service charges on deposit accounts: $2.68 million versus the two-analyst average estimate of $2.68 million.
- Interchange revenue: $3.70 million versus the two-analyst average estimate of $3.25 million.
View all Key Company Metrics for Midland States Bancorp here>>>Shares of Midland States Bancorp have returned +17.1% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.