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Compared to Estimates, Midland States Bancorp (MSBI) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Midland States Bancorp (MSBI - Free Report) reported revenue of $72.71 million, down 6.3% over the same period last year. EPS came in at $0.20, compared to $0.87 in the year-ago quarter.
The reported revenue represents a surprise of -2.93% over the Zacks Consensus Estimate of $74.9 million. With the consensus EPS estimate being $0.72, the EPS surprise was -72.22%.
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.
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:
Net Interest Margin: 3.1% versus the two-analyst average estimate of 3.2%.
Net charge-offs to average loans: 0.2% versus 0.3% estimated by two analysts on average.
Efficiency Ratio: 65.2% versus the two-analyst average estimate of 61.4%.
Average Interest-Earning Assets: $7.13 billion compared to the $7.15 billion average estimate based on two analysts.
Residential mortgage banking revenue: $0.56 million versus the two-analyst average estimate of $0.79 million.
Wealth management revenue: $6.80 million versus $6.65 million estimated by two analysts on average.
Net Interest Income (FTE)/Adjusted net interest income: $55.22 million versus $56.30 million estimated by two analysts on average.
Total Noninterest Income: $17.66 million compared to the $18.11 million average estimate based on two analysts.
Service charges on deposit accounts: $3.12 million compared to the $3.08 million average estimate based on two analysts.
Interchange revenue: $3.56 million versus $3.25 million estimated by two analysts on average.
Shares of Midland States Bancorp have returned +16.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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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Compared to Estimates, Midland States Bancorp (MSBI) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Midland States Bancorp (MSBI - Free Report) reported revenue of $72.71 million, down 6.3% over the same period last year. EPS came in at $0.20, compared to $0.87 in the year-ago quarter.
The reported revenue represents a surprise of -2.93% over the Zacks Consensus Estimate of $74.9 million. With the consensus EPS estimate being $0.72, the EPS surprise was -72.22%.
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.
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:
- Net Interest Margin: 3.1% versus the two-analyst average estimate of 3.2%.
- Net charge-offs to average loans: 0.2% versus 0.3% estimated by two analysts on average.
- Efficiency Ratio: 65.2% versus the two-analyst average estimate of 61.4%.
- Average Interest-Earning Assets: $7.13 billion compared to the $7.15 billion average estimate based on two analysts.
- Residential mortgage banking revenue: $0.56 million versus the two-analyst average estimate of $0.79 million.
- Wealth management revenue: $6.80 million versus $6.65 million estimated by two analysts on average.
- Net Interest Income (FTE)/Adjusted net interest income: $55.22 million versus $56.30 million estimated by two analysts on average.
- Total Noninterest Income: $17.66 million compared to the $18.11 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.12 million compared to the $3.08 million average estimate based on two analysts.
- Interchange revenue: $3.56 million versus $3.25 million estimated by two analysts on average.
View all Key Company Metrics for Midland States Bancorp here>>>Shares of Midland States Bancorp have returned +16.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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.