Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been given a consensus broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company.
Brokers have set a 1-year consensus price objective of $38.00 for the company and are forecasting that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 3 out of 265 based on the ratings given to its competitors.
Several brokerages have issued reports on MOFG. BidaskClub cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Sandler O’Neill reaffirmed a “buy” rating and issued a $39.00 target price on shares of MidWestOne Financial Group in a report on Friday, January 19th. Finally, Zacks Investment Research raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 target price for the company in a report on Saturday, December 30th.
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of MidWestOne Financial Group by 13.4% during the second quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock valued at $14,128,000 after purchasing an additional 49,377 shares during the last quarter. State Street Corp raised its holdings in shares of MidWestOne Financial Group by 30.2% during the second quarter. State Street Corp now owns 169,592 shares of the financial services provider’s stock valued at $5,749,000 after purchasing an additional 39,292 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MidWestOne Financial Group by 17.9% during the third quarter. Dimensional Fund Advisors LP now owns 234,892 shares of the financial services provider’s stock valued at $7,930,000 after purchasing an additional 35,607 shares during the last quarter. Northern Trust Corp raised its holdings in shares of MidWestOne Financial Group by 27.9% during the second quarter. Northern Trust Corp now owns 135,656 shares of the financial services provider’s stock valued at $4,597,000 after purchasing an additional 29,598 shares during the last quarter. Finally, Maltese Capital Management LLC raised its holdings in shares of MidWestOne Financial Group by 10.0% during the third quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock valued at $8,011,000 after purchasing an additional 21,500 shares during the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.
MidWestOne Financial Group (NASDAQ:MOFG) traded down $0.09 during trading hours on Monday, reaching $33.27. 20,849 shares of the company traded hands, compared to its average volume of 23,113. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $404.52, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.09 and a beta of 1.24. MidWestOne Financial Group has a 1-year low of $30.56 and a 1-year high of $38.29.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.11). MidWestOne Financial Group had a return on equity of 7.38% and a net margin of 17.35%. analysts anticipate that MidWestOne Financial Group will post 2.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 2.34%. MidWestOne Financial Group’s payout ratio is 43.59%.
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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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