MidWestOne Financial Group (MOFG) to Release Quarterly Earnings on Thursday

MidWestOne Financial Group (NASDAQ:MOFG) is scheduled to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. MidWestOne Financial Group had a net margin of 7.78% and a return on equity of 7.12%. The company had revenue of $36.42 million during the quarter, compared to analyst estimates of $43.40 million. On average, analysts expect MidWestOne Financial Group to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MidWestOne Financial Group Trading Down 1.3 %

Shares of MOFG opened at $19.78 on Thursday. MidWestOne Financial Group has a 1-year low of $17.80 and a 1-year high of $27.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $311.54 million, a price-to-earnings ratio of 14.98 and a beta of 0.95. The company has a 50-day moving average of $22.53 and a 200 day moving average of $22.98.

MidWestOne Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.243 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.97 annualized dividend and a dividend yield of 4.91%. MidWestOne Financial Group’s dividend payout ratio is currently 73.48%.

Analysts Set New Price Targets

Several analysts have weighed in on MOFG shares. Hovde Group started coverage on shares of MidWestOne Financial Group in a research report on Monday, March 4th. They set a “market perform” rating on the stock. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Piper Sandler began coverage on shares of MidWestOne Financial Group in a report on Wednesday, March 13th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, MidWestOne Financial Group currently has an average rating of “Hold” and an average target price of $25.67.

Insider Transactions at MidWestOne Financial Group

In other news, CEO Charles N. Reeves acquired 4,447 shares of the stock in a transaction on Monday, March 11th. The stock was bought at an average price of $22.49 per share, with a total value of $100,013.03. Following the completion of the transaction, the chief executive officer now directly owns 38,346 shares of the company’s stock, valued at $862,401.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On MidWestOne Financial Group

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of MidWestOne Financial Group by 3.9% during the second quarter. BlackRock Inc. now owns 1,273,394 shares of the financial services provider’s stock valued at $27,212,000 after purchasing an additional 47,386 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MidWestOne Financial Group by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 681,971 shares of the financial services provider’s stock valued at $16,653,000 after buying an additional 25,321 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MidWestOne Financial Group by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 615,718 shares of the financial services provider’s stock valued at $16,569,000 after acquiring an additional 30,907 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of MidWestOne Financial Group by 33.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 469,031 shares of the financial services provider’s stock valued at $15,525,000 after acquiring an additional 118,547 shares in the last quarter. Finally, State Street Corp increased its position in MidWestOne Financial Group by 3.4% in the 2nd quarter. State Street Corp now owns 341,263 shares of the financial services provider’s stock worth $7,293,000 after buying an additional 11,326 shares during the period. 65.42% of the stock is currently owned by institutional investors.

About 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. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.