MidWestOne Financial Group, Inc. (MOFG) To Go Ex-Dividend on January 16th

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) declared a quarterly dividend on Tuesday, January 6th. Stockholders of record on Friday, January 16th will be paid a dividend of 0.2425 per share by the financial services provider on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, January 16th.

MidWestOne Financial Group has increased its dividend payment by an average of 0.0%annually over the last three years. MidWestOne Financial Group has a payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect MidWestOne Financial Group to earn $3.51 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 27.6%.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock opened at $40.10 on Wednesday. MidWestOne Financial Group has a one year low of $24.62 and a one year high of $42.38. The stock’s fifty day moving average is $39.64 and its 200 day moving average is $33.26. The stock has a market cap of $827.26 million, a P/E ratio of 14.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. MidWestOne Financial Group had a return on equity of 10.22% and a net margin of 16.66%.The business had revenue of $112.27 million during the quarter, compared to analyst estimates of $63.07 million. Sell-side analysts anticipate that MidWestOne Financial Group will post 3.2 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on MOFG. Stephens lowered shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods increased their price objective on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MidWestOne Financial Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, MidWestOne Financial Group presently has a consensus rating of “Hold” and a consensus price target of $38.17.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.