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

MidWestOne Financial Group (NASDAQ:MOFG) is scheduled to be issuing 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. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its earnings results 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. The company had revenue of $36.42 million during the quarter, compared to analyst estimates of $43.40 million. MidWestOne Financial Group had a return on equity of 7.12% and a net margin of 7.78%. 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 Price Performance

Shares of MOFG stock opened at $19.78 on Thursday. The firm has a market cap of $311.54 million, a price-to-earnings ratio of 14.98 and a beta of 0.95. MidWestOne Financial Group has a 12 month low of $17.80 and a 12 month high of $27.78. The stock has a 50-day moving average price of $22.53 and a 200 day moving average price of $22.98. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24.

MidWestOne Financial Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 4,447 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $22.49 per share, for a total transaction of $100,013.03. Following the acquisition, the chief executive officer now directly owns 38,346 shares of the company’s stock, valued at approximately $862,401.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of MOFG. Vanguard Group Inc. lifted its position in MidWestOne Financial Group by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 615,718 shares of the financial services provider’s stock valued at $16,569,000 after purchasing an additional 30,907 shares in the last quarter. Wellington Management Group LLP bought a new stake in MidWestOne Financial Group during the fourth quarter worth approximately $769,000. Goldman Sachs Group Inc. increased its stake in MidWestOne Financial Group by 8.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 39,984 shares of the financial services provider’s stock worth $1,076,000 after acquiring an additional 3,265 shares during the last quarter. Barclays PLC boosted its position in shares of MidWestOne Financial Group by 25.2% during the fourth quarter. Barclays PLC now owns 56,352 shares of the financial services provider’s stock valued at $1,517,000 after buying an additional 11,343 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of MidWestOne Financial Group by 30.8% in the fourth quarter. Nuveen Asset Management LLC now owns 34,046 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 8,021 shares during the period. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Company Profile

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.