MidWestOne Financial Group (MOFG) to Release Earnings on Thursday

MidWestOne Financial Group (NASDAQ:MOFG) is scheduled to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $57.90 million during the quarter, compared to analyst estimates of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. On average, analysts expect MidWestOne Financial Group to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG opened at $29.11 on Wednesday. The business’s 50-day simple moving average is $28.29 and its 200-day simple moving average is $24.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74. MidWestOne Financial Group has a 52 week low of $19.19 and a 52 week high of $30.51. The firm has a market cap of $458.63 million, a price-to-earnings ratio of 20.22 and a beta of 1.02.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Matthew J. Hayek purchased 2,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the acquisition, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles N. Reeves acquired 7,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now directly owns 45,712 shares in the company, valued at $1,142,800. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,400 shares of company stock valued at $235,000 in the last three months. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

MOFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $28.00 price target (up previously from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Piper Sandler raised their target price on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, MidWestOne Financial Group presently has an average rating of “Hold” and a consensus price target of $26.50.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.