MidWestOne Financial Group (NASDAQ:MOFG) Releases Earnings Results, Beats Estimates By $0.05 EPS

MidWestOne Financial Group (NASDAQ:MOFG) released its quarterly earnings results on Thursday. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate 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 Stock Performance

Shares of MidWestOne Financial Group stock traded up $0.07 on Thursday, reaching $30.19. 82,124 shares of the stock were exchanged, compared to its average volume of 100,909. The firm has a market capitalization of $627.05 million, a PE ratio of -6.46 and a beta of 1.05. MidWestOne Financial Group has a 1-year low of $19.43 and a 1-year high of $34.56. The business has a fifty day moving average price of $30.97 and a two-hundred day moving average price of $29.11. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

MOFG has been the subject of a number of research reports. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $39.00 in a report on Tuesday, December 17th. StockNews.com cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Piper Sandler dropped their target price on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th.

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.