MidWestOne Financial Group (MOFG) Set to Announce Earnings on Thursday

MidWestOne Financial Group (NASDAQ:MOFG) is scheduled 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. Individual that wish to listen to the company’s earnings conference call can do so using this link.

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

MidWestOne Financial Group stock opened at $28.93 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.74. MidWestOne Financial Group has a 12 month low of $19.19 and a 12 month high of $30.51. The company has a fifty day moving average price of $28.24 and a two-hundred day moving average price of $24.62. The company has a market cap of $455.79 million, a PE ratio of 20.09 and a beta of 1.02.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MOFG shares. Piper Sandler boosted their price objective on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.50.

Insider Activity at MidWestOne Financial Group

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

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.