MidWestOne Financial Group, Inc. Reports Financial Results for the Third Quarter of 2024
MidWestOne Financial Group, Inc. (MOFG)
Last midwestone financial group, inc. earnings: 4/30 04:05 pm
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US:NASDAQ Investor Relations:
irsolutions.snl.com/mobile/home.aspx?iid=1021746
Company Research
Source: GlobeNewswire
IOWA CITY, Iowa, Oct. 24, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“we”, “our”, or the "Company”) today reported results for the third quarter of 2024. Third Quarter 2024 Summary1 Completed a common equity capital raise, resulting in net proceeds to the Company of $118.6 million to facilitate a balance sheet repositioning. $140.4 million of securities impairment related to the repositioning was recognized in pre-tax earnings.Subsequent to quarter-end: Sold $1.0 billion of debt securities with a weighted average yield of 1.58%, and a weighted average life of 5.6 years.Purchased $589.8 million of debt securities, with a weighted average yield of 4.65%, and paid in full $418.7 million of Bank Term Funding Program borrowings with a weighted average cost of 4.77%.The estimated earn back period for the securities losses is 4.5 years. Recognized a net loss for the quarter of $95.7 million, or $(6.05) per diluted common share, reflecting the effects
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News
- MidWestOne (MOFG) Upgraded to Strong Buy: Here's What You Should Know [Yahoo! Finance]Yahoo! Finance
- MidWestOne Financial upped to Outperform at KBW on valuation, earnings visibility [Seeking Alpha]Seeking Alpha
- MidWestOne Financial Group, Inc. (NASDAQ: MOFG) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $39.00 price target on the stock, up previously from $34.00.MarketBeat
- MidWestOne Financial Group, Inc. (NASDAQ: MOFG) had its price target raised by analysts at Keefe, Bruyette & Woods from $31.00 to $34.00. They now have a "market perform" rating on the stock.MarketBeat
- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) is favoured by institutional owners who hold 78% of the company [Yahoo! Finance]Yahoo! Finance
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Earnings
- 10/24/24 - Beat
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Sec Filings
- 11/15/24 - Form 13F-HR
- 11/7/24 - Form 10-Q
- 11/5/24 - Form 8-K
- MOFG's page on the SEC website