Midland States Bancorp (MSBI, Financial) reported its financial metrics for the first quarter, highlighting a net charge-off rate of 1.35%. The company's Common Equity Tier 1 (CET1) capital ratio stood at 11.84%, reflecting its financial health. Additionally, MSBI's tangible book value per share was recorded at $21.43.
The company is actively addressing the delay in releasing its audited financial statements. However, they anticipate no significant impact on their first quarter tangible equity or regulatory capital levels. MSBI noted that their unaudited preliminary results for the quarter already incorporate the previously announced changes in accounting methodology affecting a minor third-party guaranteed loan portfolio.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Midland States Bancorp Inc (MSBI, Financial) is $20.63 with a high estimate of $23.00 and a low estimate of $18.00. The average target implies an upside of 26.69% from the current price of $16.28. More detailed estimate data can be found on the Midland States Bancorp Inc (MSBI) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Midland States Bancorp Inc's (MSBI, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Midland States Bancorp Inc (MSBI, Financial) in one year is $25.05, suggesting a upside of 53.87% from the current price of $16.28. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Midland States Bancorp Inc (MSBI) Summary page.
