MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to Post Q2 2022 Earnings of $1.03 Per Share, DA Davidson Forecasts

MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Rating) – DA Davidson issued their Q2 2022 earnings estimates for MidWestOne Financial Group in a research note issued to investors on Tuesday, May 3rd. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings of $1.03 per share for the quarter.

MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. MidWestOne Financial Group had a return on equity of 11.66% and a net margin of 28.49%.

A number of other brokerages have also weighed in on MOFG. Zacks Investment Research upgraded MidWestOne Financial Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, January 5th. StockNews.com raised shares of MidWestOne Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 27th.

Shares of NASDAQ MOFG opened at $30.11 on Thursday. The stock’s 50-day moving average is $31.67 and its 200 day moving average is $32.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.29. MidWestOne Financial Group has a 1-year low of $27.08 and a 1-year high of $34.65. The stock has a market cap of $472.43 million, a price-to-earnings ratio of 7.72 and a beta of 0.97.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a dividend of $0.2375 per share. The ex-dividend date is Tuesday, May 31st. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.24. This represents a $0.95 dividend on an annualized basis and a yield of 3.16%. MidWestOne Financial Group’s dividend payout ratio is 24.36%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC acquired a new stake in shares of MidWestOne Financial Group in the 3rd quarter worth $308,000. Barclays PLC raised its stake in shares of MidWestOne Financial Group by 3.9% during the 3rd quarter. Barclays PLC now owns 31,952 shares of the financial services provider’s stock valued at $963,000 after buying an additional 1,212 shares during the last quarter. IndexIQ Advisors LLC increased its stake in shares of MidWestOne Financial Group by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 14,517 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 1,454 shares in the last quarter. BOKF NA purchased a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at about $252,000. Finally, American Century Companies Inc. boosted its holdings in MidWestOne Financial Group by 15.0% in the 3rd quarter. American Century Companies Inc. now owns 35,553 shares of the financial services provider’s stock worth $1,072,000 after buying an additional 4,648 shares during the last quarter. Institutional investors own 65.04% of the company’s stock.

About MidWestOne Financial Group (Get Rating)

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 deposit products, such as noninterest bearing and interest-bearing demand deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit, and time deposits.

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