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Midwestone Financial Group (MOFG)
NASDAQ:MOFG
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.73Last Year’s EPS
0.21Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 23, 2025
|% Change Since: 2.78%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with significant improvements in net interest margin, deposit growth, and asset quality. However, there were challenges in loan growth and increased noninterest expenses.Company Guidance
During the MidWestOne Financial Group, Inc. Q4 2024 earnings call, the guidance highlighted several key metrics reflecting the company's strong performance and future expectations. A significant improvement in the net interest margin by 92 basis points contributed to a 30% quarter-over-quarter increase in net interest income, resulting in net income of $16.3 million and a return on average assets of 1.03%. The company reported a 2% increase in total deposits and a 4% growth in noninterest-bearing deposits from the linked quarter. The commercial segment showed a 6% increase in balances, and the strategic initiatives such as the SBA vertical and wealth management were emphasized, with SBA generating $1.6 million in gain on sale revenue for 2024. Asset quality metrics remained strong, with a 54 basis point decline in the classified loan ratio and a 4% growth in pass-rated loan balances. The company anticipates mid-single-digit loan growth in Q1 2025 and projects annual expenses to range between $145 million and $147 million.Significant Improvement in Net Interest Margin
Net interest margin improved by 92 basis points, leading to a 30% quarter-over-quarter increase in net interest income.
Strong Deposit Growth
Total deposits increased by 2% compared to the linked quarter, with noninterest-bearing deposits growing 4%.
Asset Quality Improvements
The classified loan ratio declined by 54 basis points, a 150 basis point improvement from a year ago.
SBA Gain on Sale Revenue
SBA team generated more than $1.6 million of gain on sale revenue in 2024, with $630,000 occurring in the fourth quarter.
Growth in Wealth Management
Wealth management fees increased 11% over the linked quarter and 18% over the same period last year.
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MOFG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MOFG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $30.19 | $30.99 | +2.65% |
| Oct 24, 2024 | $29.01 | $28.05 | -3.31% |
| Jul 25, 2024 | $28.09 | $28.57 | +1.71% |
| Apr 25, 2024 | $20.43 | $19.86 | -2.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Midwestone Financial Group (MOFG) report earnings?
Midwestone Financial Group (MOFG) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Midwestone Financial Group (MOFG) earnings time?
Midwestone Financial Group (MOFG) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MOFG EPS forecast?
MOFG EPS forecast for the fiscal quarter 2025 (Q1) is 0.73.
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