Favorable Media Coverage Somewhat Unlikely to Affect MidWestOne Financial Group (MOFG) Stock Price
News coverage about MidWestOne Financial Group (NASDAQ:MOFG) has been trending positive this week, according to Accern. Accern rates the sentiment of press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MidWestOne Financial Group earned a media sentiment score of 0.39 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 44.5013547155386 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Several equities research analysts have recently weighed in on MOFG shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $40.00 price objective on shares of MidWestOne Financial Group in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $37.00 price objective on shares of MidWestOne Financial Group and gave the company a “hold” rating in a research note on Thursday, July 27th.
MidWestOne Financial Group (NASDAQ MOFG) traded up 0.90% on Wednesday, hitting $32.65. 17,415 shares of the company’s stock were exchanged. The stock has a market cap of $398.92 million, a P/E ratio of 15.89 and a beta of 1.24. The firm has a 50 day moving average price of $33.62 and a 200-day moving average price of $34.70. MidWestOne Financial Group has a 52-week low of $27.93 and a 52-week high of $39.20.
MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. MidWestOne Financial Group had a return on equity of 7.55% and a net margin of 17.60%. The business had revenue of $31.57 million for the quarter, compared to analyst estimates of $31.17 million. Analysts predict that MidWestOne Financial Group will post $2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s dividend payout ratio is 33.17%.
In other news, Director Kurt R. Weise sold 889 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total value of $29,256.99. Following the transaction, the director now owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 25.30% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.thecerbatgem.com/2017/09/06/favorable-media-coverage-somewhat-unlikely-to-affect-midwestone-financial-group-mofg-stock-price.html.
MidWestOne Financial Group Company Profile
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.
Receive News & Stock Ratings for MidWestOne Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MidWestOne Financial Group Inc. and related stocks with our FREE daily email newsletter.