MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• MidWestOne Financial Group, Inc. has received a consensus rating of "Hold" from analysts, with 1 sell, 3 hold, and 1 buy recommendation among the five firms covering the stock.
• The company reported $0.49 earnings per share for the last quarter, missing the consensus estimate of $0.77, while generating revenue of $61.41 million, which slightly exceeded expectations.
• MidWestOne recently announced a quarterly dividend of $0.2425 per share, equating to an annualized yield of 3.4% and a payout ratio of -23.89%.

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) has been assigned an average rating of "Hold" from the five research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $34.1667.

MOFG has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of MidWestOne Financial Group in a research note on Saturday, September 27th. Zacks Research raised MidWestOne Financial Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, Piper Sandler decreased their price objective on MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th.

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock traded up $0.42 during trading hours on Friday, hitting $28.76. The stock had a trading volume of 82,388 shares, compared to its average volume of 133,908. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $595.62 million, a price-to-earnings ratio of -7.08 and a beta of 1.03. MidWestOne Financial Group has a 1-year low of $24.62 and a 1-year high of $34.56. The stock's fifty day moving average is $28.87 and its two-hundred day moving average is $28.74.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.28). The business had revenue of $61.41 million during the quarter, compared to the consensus estimate of $60.60 million. As a group, analysts predict that MidWestOne Financial Group will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.2425 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.97 annualized dividend and a yield of 3.4%. MidWestOne Financial Group's dividend payout ratio is -23.89%.

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves bought 5,000 shares of MidWestOne Financial Group stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $28.04 per share, for a total transaction of $140,200.00. Following the completion of the transaction, the chief executive officer owned 58,867 shares of the company's stock, valued at $1,650,630.68. This represents a 9.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Len D. Devaisher bought 1,000 shares of MidWestOne Financial Group stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of $28.72 per share, for a total transaction of $28,720.00. Following the completion of the transaction, the chief operating officer directly owned 3,000 shares of the company's stock, valued at $86,160. This trade represents a 50.00% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 6,800 shares of company stock worth $190,882 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of MidWestOne Financial Group

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in shares of MidWestOne Financial Group by 32.5% during the 4th quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider's stock valued at $41,000 after buying an additional 343 shares during the period. CWM LLC grew its stake in shares of MidWestOne Financial Group by 238.8% during the 2nd quarter. CWM LLC now owns 3,175 shares of the financial services provider's stock valued at $91,000 after buying an additional 2,238 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MidWestOne Financial Group in the 2nd quarter worth about $98,000. AlphaQuest LLC purchased a new position in shares of MidWestOne Financial Group in the 1st quarter worth about $103,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of MidWestOne Financial Group by 286.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,524 shares of the financial services provider's stock worth $101,000 after purchasing an additional 2,613 shares during the period. 65.42% of the stock is owned by hedge funds and other 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.

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