MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Declares Quarterly Dividend of $0.24

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) declared a quarterly dividend on Tuesday, January 6th. Shareholders of record on Friday, January 16th will be given a dividend of 0.2425 per share by the financial services provider on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, January 16th.

MidWestOne Financial Group has increased its dividend payment by an average of 0.0%per year over the last three years. MidWestOne Financial Group has a dividend payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MidWestOne Financial Group to earn $3.51 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 27.6%.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG opened at $39.31 on Thursday. The company has a 50 day simple moving average of $39.43 and a two-hundred day simple moving average of $32.91. The stock has a market cap of $810.97 million, a price-to-earnings ratio of 13.99 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. MidWestOne Financial Group has a 12 month low of $24.62 and a 12 month high of $42.38.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share for the quarter. The company had revenue of $50.10 million for the quarter. MidWestOne Financial Group had a return on equity of 10.22% and a net margin of 16.66%. As a group, analysts predict that MidWestOne Financial Group will post 3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MOFG. Keefe, Bruyette & Woods lifted their target price on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of MidWestOne Financial Group in a research report on Monday, December 29th. Finally, Stephens cut shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.17.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.