MidWestOne Financial Group (NASDAQ:MOFG – Get Free Report) announced quarterly earnings on July 25. They reported $0.45 per share, missing the expected $0.47. Revenue was $57.90 million, surpassing the $45.75 million prediction. The company’s net margin was 9.79%, and return on equity was 5.27%. Analysts project $2 EPS for this fiscal year and $3 EPS for next year.
Stock Performance
MOFG stock opened at $29.60. The one-year range is $19.19 to $30.51. The market cap is $466.35 million with a PE ratio of 20.56. Their 50-day moving average is $28.03 and the 200-day is $24.46. Debt-to-equity ratio is 0.21, and both quick and current ratios are 0.74.
Dividend Announcement
MidWestOne Financial Group declared a quarterly dividend of $0.243 on September 17, paid to shareholders on record from September 3. This annualizes to $0.97, yielding 3.28%. The dividend payout ratio stands at 67.36%.
Insider Transactions
CEO Charles N. Reeves purchased 7,000 shares at $25.00 each on September 30, totaling $175,000, increasing his ownership to 45,712 shares valued at $1,142,800. Director Matthew J. Hayek also bought 2,000 shares for $50,000, now owning 11,293 shares worth about $282,325. In 90 days, insiders bought 9,400 shares worth $235,000, owning 2.80% of the company.
Price Targets by Analysts
Brokerages have raised their price targets: Piper Sandler to $30.00 and Keefe, Bruyette & Woods to $28.00, maintaining a “hold” rating. The consensus rating is “Hold” with an average target price of $26.50.
About MidWestOne Financial Group
MidWestOne operates MidWestOne Bank, providing a range of banking products for individuals and businesses.
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