MidWestOne Financial Group, Inc. Second Quarter Earnings Sneak Peek

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will unveil its latest earnings on Monday, July 18, 2011. Midwest One Financial Group, Inc. provides a range of commercial and retail lending services to businesses, individuals and government agencies.

MidWestOne Financial Group, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 26 cents per share, a decline of 3.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 25 cents. For the year, analysts are projecting profit of $1.11 per share, a rise of 3.7% from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 31 cents per share versus a mean estimate of profit of 26 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $15.7 million in revenue this quarter, a rise of 0.1% from the year ago quarter. Analysts are forecasting total revenue of $63.3 million for the year, a rise of 0.8% from last year’s revenue of $62.8 million.

Analyst Ratings: The limited number of analysts covering the stock seem bullish with three analysts rating it as a buy, none rating it as a sell and none rating it as a hold.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 45% while it rose 69.2% in the fourth quarter of the last fiscal year and more than threefold in the third quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 2.8% to $20.7 million in first quarter. The figure fell 0.6% in the fourth quarter of the last fiscal year from the year earlier, dropped 2.2% in third quarter of the last fiscal year from the year-ago quarter and 2.3% in the second quarter of the last fiscal year.

Competitors to Watch: West Bancorporation, Inc. (NASDAQ:WTBA), QCR Holdings, Inc. (NASDAQ:QCRH), Ames National Corporation (NASDAQ:ATLO), Great Southern Bancorp, Inc. (NASDAQ:GSBC), Commerce Bancshares, Inc. (NASDAQ:CBSH), Enterprise Financial Services Corp. (NASDAQ:EFSC), Associated Banc-Corp (NASDAQ:ASBC), Hawthorn Bancshares, Inc. (NASDAQ:HWBK) and UMB Financial Corporation (NASDAQ:UMBF).

Stock Price Performance: During June 13, 2011 to July 12, 2011, the stock price had risen $2.63 (21.5%) from $12.21 to $14.84. The stock price saw one of its best stretches over the last year between January 12, 2011, and January 21, 2011, when shares rose for seven-straight days, rising 8.6% (+$1.19) over that span. Shares have been on a negative streak of late, closing down every day between July 11, 2011 and July 12, 2011. Shares are down 16 cents (-1.1%) year to date.

(Source: Xignite Financials)

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