MidWestOne Financial Group, Inc. (MOFG) PT Set at $37.00 by Piper Jaffray Companies
Piper Jaffray Companies set a $37.00 price target on MidWestOne Financial Group, Inc. (NASDAQ:MOFG) in a report issued on Thursday. The brokerage currently has a hold rating on the financial services provider’s stock.
MOFG has been the topic of a number of other research reports. Zacks Investment Research cut MidWestOne Financial Group from a hold rating to a sell rating in a research note on Thursday, March 30th. 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 on the stock. Finally, BidaskClub cut MidWestOne Financial Group from a sell rating to a strong sell rating in a research note on Wednesday, July 19th.
Shares of MidWestOne Financial Group (NASDAQ:MOFG) opened at 34.23 on Thursday. MidWestOne Financial Group has a 1-year low of $26.50 and a 1-year high of $39.20. The firm’s 50 day moving average is $34.85 and its 200 day moving average is $35.21. The firm has a market capitalization of $417.95 million, a PE ratio of 18.20 and a beta of 1.23.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.59. The firm had revenue of $31.57 million for the quarter, compared to analysts’ expectations of $31.17 million. MidWestOne Financial Group had a return on equity of 7.72% and a net margin of 17.60%. Analysts anticipate that MidWestOne Financial Group will post $2.47 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.99%. The ex-dividend date is Wednesday, August 30th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s payout ratio is 32.20%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in MidWestOne Financial Group during the first quarter valued at $20,031,000. Renaissance Technologies LLC boosted its position in MidWestOne Financial Group by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 123,100 shares of the financial services provider’s stock valued at $4,629,000 after buying an additional 11,800 shares during the period. State Street Corp boosted its position in 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 valued at $5,317,000 after buying an additional 29,977 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in MidWestOne Financial Group by 134.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 25,820 shares of the financial services provider’s stock valued at $885,000 after buying an additional 14,810 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in 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 valued at $6,140,000 after buying an additional 14,101 shares during the period. 44.29% of the stock is currently owned by institutional investors.
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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