MidWestOne Financial Group, Inc. (NASDAQ:MOFG) announced its earnings results on Thursday, July 27th. The financial services provider reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59, Bloomberg Earnings reports. MidWestOne Financial Group had a return on equity of 7.55% and a net margin of 17.60%. The company had revenue of $31.57 million for the quarter, compared to analyst estimates of $31.17 million.
MidWestOne Financial Group (MOFG) opened at 32.86 on Thursday. The firm has a 50-day moving average price of $34.26 and a 200 day moving average price of $34.97. MidWestOne Financial Group has a one year low of $27.93 and a one year high of $39.20. The company has a market cap of $401.48 million, a price-to-earnings ratio of 15.99 and a beta of 1.23.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 annualized dividend and a yield of 2.07%. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s dividend payout ratio is presently 32.20%.
Several brokerages recently commented on MOFG. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $37.00 target price on MidWestOne Financial Group and gave the company a “hold” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $40.00 target price on shares of MidWestOne Financial Group in a research report on Friday, May 19th. Finally, BidaskClub lowered MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.
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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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