Stock fact sheet · data as of
Midland States Bancorp, Inc. (MSBIP): fair value, margin of safety and Wheel Score
Ticker symbol MSBIP · Financial Services · Banks - Regional · United States · Depositary preferred shares · Value
MSBIP is not Midland States Bancorp, Inc.'s common stock: it is a depositary share of its preferred stock - each one a fraction of a single preferred share. Preferred shares pay a set dividend and rank ahead of the common stock if the company fails, but usually carry no vote and do not share in the company's growth the same way. The valuation models on this page are built for common stock and say little about a preferred share. The common stock trades as MSBI (common stock).
Is MSBIP undervalued?
MSBIP closed at 25.04 on 5 Nov 2026, 28% below the GLS average fair value of 34.91 from 8 models (4 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
There is a wide gap between GLS Growth (6.04) and 10 Cap (85.69). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, MSBIP is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 60, growth score 12, out of 100).
Nine valuation models for MSBIP
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 39.50 | +58% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 29.79 | +19% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 6.46 | -74% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 6.04 | -76% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 85.69 | +242% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 69.85 | +179% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 18.98 | -24% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 22.94 | -8% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -162.21 | -748% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Midland States Bancorp, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 2.8/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -13.1%, ROE -22.0%, ROA -1.9% - with debt at 0.67 times equity and a free-cash-flow yield of 11.1%.
The dividend yield is 3.86% at a payout ratio of 67%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Asset Management 44%, Interchange Revenues 23%, Nonsufficient Fund Fees 14% (quarter Q3 FY2026).
Institutional ownership scores 5/10, insider activity 6/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | -13.1% |
|---|---|---|---|
| GLS Moat | 2.8 / 10 | ROE | -22.0% |
| Debt / equity | 0.67 | ROA | -1.9% |
| Free-cash-flow yield | 11.1% | Payout ratio | 67% |
| Institutions | 5 / 10 | Insiders · Congress | 6 · 5 / 10 |
Wheel Score 31: No options
No options are listed on Midland States Bancorp, Inc. in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 31, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 3k shares a day on a market cap of $695M, with a beta of 0.64 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $695M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 28% below fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | moat 2.8/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.64, $695M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 28 Jan 2027, 84 days away - outside the window of a 30-45-day put sold today. The next ex-dividend date is 15 Dec 2026 (0.4844 per share).
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Midland States Bancorp, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MSBI Midland States Bancorp, Inc. | 33.44 | 38.17 | +12% | 41Weak | $696M |
| HIFS Hingham Institution for Savings | 320.17 | 380.09 | +16% | 28No options | $698M |
| ACNB ACNB Corporation | 67.51 | 58.80 | -15% | 35Weak | $687M |
| RRBI Red River Bancshares, Inc. | 107.68 | 108.90 | +1% | 25No options | $709M |
| CUBB Customers Bancorp, Inc 5.375% S | 20.76 | 229.32 | +91% | 24No options | $709M |
| CCB Coastal Financial Corporation | 44.45 | 302.53 | +85% | 49Weak | $680M |
| BHB Bar Harbor Bankshares | 42.51 | 39.72 | -7% | 31Weak | $713M |
| BCAL California BanCorp | 22.19 | 40.61 | +45% | 33No options | $713M |
| CBNK Capital Bancorp, Inc. | 43.78 | 44.89 | +2% | 20Weak | $715M |
| TCBX Third Coast Bancshares, Inc. | 40.49 | 87.54 | +54% | 47Weak | $674M |
| WCCB West Coast Community Bancorp | 63.35 | 121.40 | +48% | 36No options | $667M |
| AROW Arrow Financial Corporation | 39.54 | 37.39 | -6% | 27Weak | $733M |
⚖ Compare MSBIP with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about MSBIP
Is MSBIP the same as Midland States Bancorp, Inc. stock?
No. MSBIP is not Midland States Bancorp, Inc.'s common stock: it is a depositary share of its preferred stock - each one a fraction of a single preferred share. Preferred shares pay a set dividend and rank ahead of the common stock if the company fails, but usually carry no vote and do not share in the company's growth the same way. The valuation models on this page are built for common stock and say little about a preferred share. The common stock trades as MSBI (common stock).
Is MSBIP undervalued right now?
By the GLS models, moderately: at 25.04 the stock trades 28% below the average fair value of 34.91 (data as of 5 Nov 2026).
What is the Wheel Score of MSBIP and what does it mean?
MSBIP has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for MSBIP?
34.91 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Midland States Bancorp, Inc. report earnings next?
The next earnings report is due on 28 Jan 2027, 84 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does MSBIP have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on MSBIP, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.