MidWestOne Financial Group (NASDAQ:MOFG) Announces Earnings Results

MidWestOne Financial Group (NASDAQ:MOFG) posted its earnings results on Thursday. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05, Zacks reports. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 5.13%.

MidWestOne Financial Group Price Performance

Shares of NASDAQ MOFG traded up $0.07 during midday trading on Thursday, reaching $30.19. The company’s stock had a trading volume of 91,203 shares, compared to its average volume of 103,564. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $30.97 and a 200 day moving average price of $29.11. MidWestOne Financial Group has a one year low of $19.43 and a one year high of $34.56. The company has a market cap of $627.05 million, a price-to-earnings ratio of -6.46 and a beta of 1.05.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research note on Monday, October 28th. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th.

MidWestOne Financial Group Company Profile

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.