MidWestOne Financial Group, Inc. (MOFG) Plans Quarterly Dividend of $0.17
MidWestOne Financial Group, Inc. (NASDAQ:MOFG) declared a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.17 per share by the financial services provider on Friday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 30th.
Shares of MidWestOne Financial Group (NASDAQ MOFG) traded down 0.22% during trading on Thursday, hitting $36.37. 35,531 shares of the stock traded hands. The stock has a market cap of $444.37 million, a price-to-earnings ratio of 17.70 and a beta of 1.25. MidWestOne Financial Group has a 1-year low of $27.93 and a 1-year high of $39.20. The stock has a 50 day moving average price of $33.87 and a 200-day moving average price of $34.35.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. The firm had revenue of $31.57 million for the quarter, compared to the consensus estimate of $31.17 million. MidWestOne Financial Group had a net margin of 17.60% and a return on equity of 7.55%. Equities analysts forecast that MidWestOne Financial Group will post $2.45 EPS for the current year.
In related news, Director Kurt R. Weise sold 889 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $32.91, for a total value of $29,256.99. Following the transaction, the director now directly owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 25.30% of the stock is currently owned by insiders.
MOFG has been the topic of a number of research analyst reports. BidaskClub raised shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Piper Jaffray Companies set a $37.00 price target on shares of MidWestOne Financial Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
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About MidWestOne Financial Group
MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.
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