Midland States Bancorp, Inc. (MSBI) vs Third Coast Bancshares, Inc. (TCBX)

Midland States Bancorp, Inc. and Third Coast Bancshares, Inc. are both Banks Regional companies. Midland States Bancorp, Inc. and Third Coast Bancshares, Inc. are of similar size ($713.0M and $687.5M). Third Coast Bancshares, Inc. trades at the lower P/E: 9.2× against 21.3×. Third Coast Bancshares, Inc. grew revenue faster over the last twelve months: 16.9% against −12.2%. Third Coast Bancshares, Inc. has the higher net margin (17.1% vs 7.34%) and the higher return on invested capital (21.9% vs 6.06%). Across the 19 metrics below, Third Coast Bancshares, Inc. leads on 14 and Midland States Bancorp, Inc. on 5.

Valuation

Metric MSBI TCBX Banks Regional median
P/E 21.32 9.18 12.15
P/S 1.53 1.76 2.37
P/B 1.53 1.07 1.21
Price to free cash flow 5.59 45.46 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.62 1.09 2.27
Earnings yield 4.69% 10.89% 8.11%
Free cash flow yield 17.87% 2.20% 8.98%

Profitability

Metric MSBI TCBX Banks Regional median
Gross margin 72.03% 58.05% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 7.34% 17.07% 18.66%
Free cash flow margin 27.38% 3.87% 21.18%
Return on equity 7.28% 11.92% 10.64%
Return on assets 0.49% 1.19% 1.13%
Return on invested capital 6.06% 21.87% 8.33%

Growth

Metric MSBI TCBX Banks Regional median
Revenue growth (TTM) (12.17%) 16.85% 6.61%
EPS growth (last fiscal year) (484.76%) 36.33% —
Revenue growth, 5-year CAGR 9.23% 34.06% 12.30%
Net income growth, 5-year CAGR 0.00% 38.41% 9.71%

Health

Metric MSBI TCBX Banks Regional median
Debt to equity 0.59 0.00 0.22
Current ratio 0.78 0.97 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric MSBI TCBX Banks Regional median
Dividend yield 5.03% — 3.75%
Payout ratio 0.29 0.00 0.27

Size

Metric MSBI TCBX Banks Regional median
Market cap 687.52m 713.00m 921.07m

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