MidWestOne Financial Group (MOFG) Earning Favorable Press Coverage, Study Shows
News articles about MidWestOne Financial Group (NASDAQ:MOFG) have been trending positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MidWestOne Financial Group earned a news sentiment score of 0.38 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 44.4737231945049 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
MidWestOne Financial Group (NASDAQ:MOFG) traded up 1.34% on Tuesday, reaching $33.99. 16,461 shares of the company’s stock were exchanged. The firm has a market cap of $415.29 million, a PE ratio of 16.54 and a beta of 1.24. The firm has a 50 day moving average price of $33.36 and a 200 day moving average price of $34.59. MidWestOne Financial Group has a one year low of $27.93 and a one year high of $39.20.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 EPS for the quarter, hitting the 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. On average, equities analysts anticipate that MidWestOne Financial Group will post $2.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, August 30th. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s payout ratio is currently 33.17%.
A number of equities research analysts recently issued reports on MOFG shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $40.00 price target on shares of MidWestOne Financial Group in a research note on Friday, May 19th. BidaskClub raised shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $37.00 price target on shares of MidWestOne Financial Group and gave the company a “hold” rating in a research note on Thursday, July 27th.
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In other news, Director Kurt R. Weise sold 889 shares of MidWestOne Financial Group stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total transaction of $29,256.99. Following the transaction, the director now owns 2,275 shares in the company, valued at approximately $74,870.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.30% of the stock is owned by insiders.
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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