Midland States Bancorp (MSBI)
Provides community banking and wealth management across Illinois and the St. Louis area.
Something off on this page? Send us feedback.
Provides commercial and retail banking, deposits, treasury services, and wealth management through Midland States Bank. The franchise is concentrated in Illinois and the St. Louis area, with recent portfolio exits refocusing the balance sheet on core community banking.
Operates through Midland States Bank, with Banking, Wealth Management, and Corporate segments. Customer activity centers on commercial and consumer loans, deposits, treasury management, merchant services, trust and fiduciary work, brokerage, and retirement planning.
The footprint is concentrated in Illinois and the St. Louis metropolitan area, with full-service offices serving community-bank relationships. Its public-company arc includes a Nasdaq IPO in 2016 and acquisitions that expanded the franchise before the current cleanup phase.
Execution depends on relationship banking, credit discipline, and regulated bank operations. Recent actions exited LendingPoint exposure, reduced GreenSky participation, stopped new equipment-finance originations, and remediated previously disclosed internal-control weaknesses.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 28, 2026 | Piper Sandler | Reiterate | Rating: —Target: $32 | Target: $35 |
| Jul 27, 2026 | DA Davidson | Reiterate | Rating: —Target: $26 | Target: $33 |
| Jun 26, 2026 | Piper Sandler | Reiterate | Rating: —Target: $28 | Target: $32 |
| Apr 27, 2026 | DA Davidson | Reiterate | Rating: —Target: $24 | Target: $26 |
| Apr 27, 2026 | Piper Sandler | Reiterate | Rating: —Target: $19 | Target: $28 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.96B · Total debt $344.9M · Total assets $6.70B · Shareholders' equity $569.7M
- Revenue
- $111.9M
- Operating income
- $25.8M
- Net income
- $19.9M
HistoryDividendAnnual yield
| Institutions | ≈ 71.05% | 14.74M shares | |
|---|---|---|---|
| 155 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 16.58% | 3.44M shares | |
| 21 holders · as of Sep 9, 2026 | |||
| Strategic holders | 6.75% | 1.40M shares | |
| 1 holder · as of Apr 15, 2025 | |||
| Other | ≈ 5.62% | 1.17M shares | |
| remainder | |||
20.75M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.07% | 2.92M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 6.75% | 1.40M | filed Apr 15, 2025 |
Page 1 of 8 PagesInsider | 6.45% | 1.34M | filed Feb 14, 2019 |
Dimensional Fund Advisors LPInstitution | 4.14% | 859,377 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.08% | 847,353 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 8, 2026 | Kyle Owen Mooney | officer: SVP - Chief Operating Officer | −2,400 | $33.33 |
| Aug 18, 2026 | Kyle Owen Mooney | officer: SVP - Chief Operating Officer | −489 | $33.16 |
| Aug 11, 2026 | Kyle Owen Mooney | officer: SVP - Chief Operating Officer | −1,198 | $33.51 |
| Jul 28, 2026 | Jeffrey G. Ludwig | director, officer: President & CEO | −8,383 | $34.00 |
| May 5, 2026 | Travis Franklin | director | +9,400 | $26.49 |
- First Busey
Closest Illinois/Missouri banking and wealth peer.
- First Mid Bancshares
Illinois and Missouri community-bank peer with wealth services.
- Enterprise Financial Services
St. Louis commercial-bank rival with wealth capabilities.
- Heartland Bank
Illinois community-bank competitor across banking and wealth.
- Wintrust Financial
Larger Illinois banking rival with mortgage and wealth scale.
- Old Second Bancorp
Northern Illinois bank competing in loans, deposits, and wealth.
- Commerce Bancshares
Missouri and central Illinois competitor with wealth and payments.
- German American Bancorp
Broader Midwest peer with similar bank and wealth offerings.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Midland States Bancorp | $32.52 | −1.09% | $682.3M | 20.6 | 9.6 | 1.5 | −29.1% |
| First Busey | $29.85 | +0.45% | $2.51B | 10.7 | 11.2 | 2.7 | −1.9% |
| First Mid Bancshares | $48.81 | −0.81% | $1.31B | 12.2 | 10.2 | 2.9 | +26.7% |
| Enterprise Financial Services | $60.39 | −0.00% | $2.19B | 12.0 | 10.7 | 2.2 | +30.9% |
| Heartland Bank | $35.34 | −0.24% | $1.29B | 15.2 | 11.0 | 3.9 | +37.6% |
| Wintrust Financial | $144.88 | +0.12% | $9.76B | 11.5 | 10.9 | 2.2 | +10.1% |
| Old Second Bancorp | $24.70 | +0.20% | $1.27B | 14.2 | 10.6 | 2.9 | +28.6% |
| Commerce Bancshares | $55.80 | +0.22% | $8.12B | 13.5 | 12.7 | 3.7 | +11.9% |
| German American Bancorp | $48.73 | −0.54% | $1.84B | 12.9 | 12.1 | 3.7 | +12.7% |
| Median | 12.6 | 11.0 | 2.9 | +19.7% |