MidWestOne Financial Group (MOFG) Scheduled to Post Earnings on Thursday

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) is scheduled to issue 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. Parties that are interested in registering for the company's conference call can do so using this link.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The business had revenue of $36.42 million for 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 Stock Performance

MidWestOne Financial Group stock traded down $0.06 during mid-day trading on Thursday, reaching $19.72. 46,691 shares of the company's stock were exchanged, compared to its average volume of 31,079. The firm has a market capitalization of $310.59 million, a PE ratio of 14.98 and a beta of 0.95. The business's fifty day simple moving average is $22.53 and its 200 day simple moving average is $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 has a one year low of $17.80 and a one year high of $27.78.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.243 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.97 annualized dividend and a dividend yield of 4.93%. MidWestOne Financial Group's payout ratio is presently 73.48%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MOFG. Hovde Group began coverage on MidWestOne Financial Group in a research note on Monday, March 4th. They issued a "market perform" rating on the stock. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods lowered their target price on MidWestOne Financial Group from $28.00 to $27.00 and set a "market perform" rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler began coverage on MidWestOne Financial Group in a research note on Wednesday, March 13th. They issued a "neutral" rating and a $24.00 target price on the stock. Five analysts have rated the stock with a hold rating, According to MarketBeat, MidWestOne Financial Group has an average rating of "Hold" and an average target price of $25.67.

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 4,447 shares of the stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $22.49 per share, with a total value of $100,013.03. Following the transaction, the chief executive officer now directly owns 38,346 shares of the company's stock, valued at approximately $862,401.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG grew its holdings in shares of MidWestOne Financial Group by 529.2% during the 4th quarter. UBS Group AG now owns 6,871 shares of the financial services provider's stock worth $218,000 after acquiring an additional 5,779 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of MidWestOne Financial Group by 61.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,185 shares of the financial services provider's stock worth $214,000 after buying an additional 2,741 shares during the last quarter. Deutsche Bank AG grew its stake in shares of MidWestOne Financial Group by 44.8% in the 1st quarter. Deutsche Bank AG now owns 8,756 shares of the financial services provider's stock worth $214,000 after buying an additional 2,707 shares during the last quarter. Voya Investment Management LLC purchased a new stake in shares of MidWestOne Financial Group in the 4th quarter worth approximately $202,000. Finally, Citigroup Inc. grew its stake in shares of MidWestOne Financial Group by 1,185.5% in the 2nd quarter. Citigroup Inc. now owns 4,795 shares of the financial services provider's stock worth $102,000 after buying an additional 4,422 shares during the last quarter. Hedge funds and other 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.