MidWestOne Financial Group (MOFG) to Release Earnings on Thursday

by · The Markets Daily

MidWestOne Financial Group (NASDAQ:MOFG – Get Free Report) is set to post its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect MidWestOne Financial Group to post earnings of $0.56 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

MidWestOne Financial Group (NASDAQ:MOFG – Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. The firm had revenue of $57.90 million during the quarter, compared to the consensus estimate of $45.75 million. 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 Trading Up 0.6 %

Shares of MOFG stock opened at $29.11 on Wednesday. The company has a market capitalization of $458.63 million, a P/E ratio of 20.22 and a beta of 1.02. MidWestOne Financial Group has a 12-month low of $19.19 and a 12-month high of $30.51. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $28.29 and a 200 day moving average price of $24.67.

Insider Activity at MidWestOne Financial Group

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on MOFG shares. Piper Sandler boosted their target price on MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 target price (up previously from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, MidWestOne Financial Group currently has an average rating of “Hold” and an average target price of $26.50.

Read Our Latest Stock Analysis on MOFG

About MidWestOne Financial Group

(Get Free Report)

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.

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