Brokerages Anticipate MidWestOne Financial Group, Inc. (MOFG) to Announce $0.59 EPS

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has been assigned an average broker rating score of 2.20 (Buy) from the five analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. MidWestOne Financial Group’s rating score has declined by 10% from 90 days ago as a result of various analysts’ ratings changes.

Brokerages have set a 12 month consensus target price of $38.00 for the company and are anticipating that the company will post $0.59 EPS for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 31 out of 265 based on the ratings given to its competitors.

A number of equities analysts recently commented on MOFG shares. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Piper Jaffray Companies started coverage on MidWestOne Financial Group in a research note on Thursday, April 6th. They issued a “neutral” rating and a $37.00 price target for the company. Finally, Keefe, Bruyette & Woods started coverage on MidWestOne Financial Group in a research note on Monday, April 17th. They issued an “outperform” rating and a $40.00 price target for the company.

In related news, Director John M. Morrison sold 2,000,000 shares of MidWestOne Financial Group stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $32.88, for a total value of $65,760,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.30% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its position in shares of MidWestOne Financial Group by 19.6% in the fourth quarter. Royce & Associates LP now owns 505,696 shares of the financial services provider’s stock worth $19,014,000 after buying an additional 83,028 shares in the last quarter. AT Bancorp boosted its position in shares of MidWestOne Financial Group by 5.5% in the first quarter. AT Bancorp now owns 304,134 shares of the financial services provider’s stock worth $10,429,000 after buying an additional 15,878 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 163,289 shares of the financial services provider’s stock worth $6,140,000 after buying an additional 14,101 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of MidWestOne Financial Group by 482.5% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 150,908 shares of the financial services provider’s stock worth $5,175,000 after buying an additional 125,000 shares in the last quarter. Finally, State Street Corp boosted its position in shares of MidWestOne Financial Group by 26.9% in the fourth quarter. State Street Corp now owns 141,405 shares of the financial services provider’s stock worth $5,317,000 after buying an additional 29,977 shares in the last quarter. 22.73% of the stock is currently owned by hedge funds and other institutional investors.

MidWestOne Financial Group (NASDAQ:MOFG) opened at 35.50 on Friday. The firm has a market capitalization of $424.54 million, a PE ratio of 18.87 and a beta of 1.25. MidWestOne Financial Group has a 52-week low of $26.50 and a 52-week high of $39.20. The stock’s 50 day moving average price is $34.51 and its 200 day moving average price is $34.88.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.165 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 1.86%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 29.63%.

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About MidWestOne Financial Group

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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