Stock Analysis
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- NasdaqGS:MOFG
MidWestOne Financial Group First Quarter 2024 Earnings: Misses Expectations
MidWestOne Financial Group (NASDAQ:MOFG) First Quarter 2024 Results
Key Financial Results
- Revenue: US$39.8m (up 13% from 1Q 2023).
- Net income: US$3.27m (up 134% from 1Q 2023).
- Profit margin: 8.2% (up from 4.0% in 1Q 2023). The increase in margin was driven by higher revenue.
- EPS: US$0.21 (up from US$0.089 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
MidWestOne Financial Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 41%.
Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 1.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for MidWestOne Financial Group you should be aware of.
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About NasdaqGS:MOFG
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.
Flawless balance sheet, good value and pays a dividend.