Wall Street analysts forecast that Midland States Bancorp (MSBI) will report quarterly earnings of $0.70 per share in its upcoming release, pointing to a year-over-year increase of 127.8%. It is anticipated that revenues will amount to $78.5 million, exhibiting an increase of 3.8% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Midland States Bancorp metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Net Interest Margin' to come in at 3.7%. Compared to the current estimate, the company reported 3.2% in the same quarter of the previous year.
Analysts forecast 'Net charge-offs to average loans' to reach 3.0%. Compared to the present estimate, the company reported 7.2% in the same quarter last year.
According to the collective judgment of analysts, 'Efficiency Ratio' should come in at 62.6%. The estimate compares to the year-ago value of 71.4%.
The collective assessment of analysts points to an estimated 'Average Balance - Total interest-earning assets' of $6.27 billion. The estimate compares to the year-ago value of $7.01 billion.
The consensus among analysts is that 'Wealth management revenue' will reach $8.05 million. Compared to the present estimate, the company reported $7.66 million in the same quarter last year.
The combined assessment of analysts suggests that 'Net Interest Income (FTE)/Adjusted net interest income' will likely reach $58.03 million. The estimate compares to the year-ago value of $56.26 million.
Based on the collective assessment of analysts, 'Total Noninterest Income' should arrive at $20.08 million. The estimate is in contrast to the year-ago figure of $19.56 million.
Analysts predict that the 'Service charges on deposit accounts' will reach $3.83 million. Compared to the present estimate, the company reported $3.51 million in the same quarter last year.
The consensus estimate for 'Interchange revenue' stands at $3.23 million. The estimate compares to the year-ago value of $3.53 million.
View all Key Company Metrics for Midland States Bancorp here>>>
Over the past month, Midland States Bancorp shares have recorded returns of +3.7% versus the Zacks S&P 500 composite's -0.4% change. Based on its Zacks Rank #2 (Buy), MSBI will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Midland States Bancorp, Inc. (MSBI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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