01:49 PM EDT, 04/26/2024 (MT Newswires) -- Midland States Bancorp ( MSBI ) shares were down more than 7% in recent trading on Friday, a day after the company's Q1 adjusted earnings fell below street estimates.

The company reported Q1 adjusted earnings late Thursday of $0.53 per diluted share, down from $0.88 a year earlier.

Analysts polled by Capital IQ expected $0.72.

Revenue, expressed as the sum of net interest income and non-interest income, for the quarter ended March 31 was $77.1 million, up from $76.3 million a year ago.

Analysts surveyed by Capital IQ expected $74.9 million.

Price: 22.32, Change: -1.72, Percent Change: -7.15