Midland States Bancorp, Inc. (MSBI) vs Washington Trust Bancorp, Inc. (WASH)

Midland States Bancorp, Inc. and Washington Trust Bancorp, Inc. are both Banks Regional companies. Midland States Bancorp, Inc. and Washington Trust Bancorp, Inc. are of similar size ($707.1M and $670.3M). Washington Trust Bancorp, Inc. trades at the lower P/E: 12.7× against 20.7×. Washington Trust Bancorp, Inc. grew revenue faster over the last twelve months: 24.9% against −12.2%. Washington Trust Bancorp, Inc. has the higher net margin (14.5% vs 7.34%) and the lower return on invested capital (4.90% vs 6.06%). Both pay a dividend; Washington Trust Bancorp, Inc. yields more (6.04% vs 4.00%). Across the 19 metrics below, Washington Trust Bancorp, Inc. leads on 10 and Midland States Bancorp, Inc. on 9.

Valuation

Metric MSBI WASH Banks Regional median
P/E 20.65 12.74 11.98
P/S 1.48 1.85 2.34
P/B 1.48 1.28 1.19
Price to free cash flow 5.42 7.37 10.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.84% 7.85% 8.23%
Free cash flow yield 18.45% 13.56% 9.08%

Profitability

Metric MSBI WASH Banks Regional median
Gross margin 72.03% 61.25% 69.55%
Operating margin 0.00% 0.00% 0.00%
Net margin 7.34% 14.50% 18.66%
Free cash flow margin 27.38% 25.09% 21.11%
Return on equity 7.28% 10.25% 10.65%
Return on assets 0.49% 0.83% 1.13%
Return on invested capital 6.06% 4.90% 8.35%

Growth

Metric MSBI WASH Banks Regional median
Revenue growth (TTM) (12.17%) 24.92% 6.98%
EPS growth (last fiscal year) (484.76%) 266.26% 18.88%
Revenue growth, 5-year CAGR 9.23% 7.90% 12.38%
Net income growth, 5-year CAGR 0.00% (5.60%) 9.71%

Health

Metric MSBI WASH Banks Regional median
Debt to equity 0.59 0.86 0.22
Current ratio 0.78 0.97 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric MSBI WASH Banks Regional median
Dividend yield 4.00% 6.04% 2.57%
Payout ratio 0.83 0.78 0.30

Size

Metric MSBI WASH Banks Regional median
Market cap 670.30m 707.08m 913.33m

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