Yahoo Finance Midland States Bancorp First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Midland States Bancorp (NASDAQ:MSBI) First Quarter 2024 Results
Key Financial Results
Revenue: US$63.1m (down 14% from 1Q 2023).
Net income: US$11.7m (down 40% from 1Q 2023).
Profit margin: 19% (down from 27% in 1Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.53 (down from US$0.87 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Midland States Bancorp Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 26%.
Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 5.9% from a week ago.
Valuation
Our analysis of Midland States Bancorp based on 6 different valuation metrics shows it might be undervalued. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.
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