Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have received a consensus broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One 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.
Analysts have set a 12 month consensus target price of $36.67 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 8 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Sandler O’Neill reissued a “buy” rating and issued a $39.00 price objective on shares of MidWestOne Financial Group in a research note 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 price objective on the stock in a research note on Saturday, December 30th.
Several institutional investors have recently added to or reduced their stakes in the business. Monashee Investment Management LLC acquired a new stake in shares of MidWestOne Financial Group during the 4th quarter worth about $8,114,000. Royce & Associates LP boosted its position in shares of MidWestOne Financial Group by 3.0% in the fourth quarter. Royce & Associates LP now owns 654,571 shares of the financial services provider’s stock worth $21,948,000 after acquiring an additional 18,832 shares during the last quarter. BlackRock Inc. boosted its position in shares of MidWestOne Financial Group by 1.9% in the fourth quarter. BlackRock Inc. now owns 530,560 shares of the financial services provider’s stock worth $17,789,000 after acquiring an additional 9,907 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter worth approximately $286,000. Finally, Wells Fargo & Company MN boosted its position in shares of MidWestOne Financial Group by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 42,098 shares of the financial services provider’s stock worth $1,412,000 after acquiring an additional 6,743 shares during the last quarter. 46.22% of the stock is currently owned by institutional investors.
MidWestOne Financial Group (NASDAQ MOFG) opened at $31.19 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The stock has a market cap of $389.32, a PE ratio of 15.36, a PEG ratio of 1.50 and a beta of 1.07. MidWestOne Financial Group has a twelve month low of $30.56 and a twelve month high of $38.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 2.50%. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 28th. MidWestOne Financial Group’s dividend payout ratio is presently 33.50%.
MidWestOne Financial Group Company Profile
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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