Q2 2022 EPS estimates for MidWestOne Financial Group, Inc. (NASDAQ:MOFG) lifted by Piper Sandler

MidWestOne Financial Group, Inc. (NASDAQ: MOFG – Get a rating) – Stock analysts Piper Sandler raised their second-quarter 2022 earnings estimates for shares of MidWestOne Financial Group in a note to investors on Tuesday, March 29. Piper Sandler analyst B. Nosal now expects the financial services provider to post earnings per share of $0.88 for the quarter, up from its previous forecast of $0.87. Piper Sandler also released estimates for MidWestOne Financial Group Q3 2022 earnings at $0.92 EPS, Q4 2022 earnings at $0.93 EPS, FY2022 earnings at $3.54 EPS, Q1 2023 earnings at $0.89 EPS, Q2 2023 earnings at $0.94 EPS, Q3 2023 earnings at $0.95 EPS, Fourth quarter 2023 earnings at $0.95 EPS and earnings of fiscal year 2023 at $3.72 EPS. MidWestOne Financial Group (NASDAQ:MOFG – Get a rating) last released its quarterly earnings data on Thursday, January 27. The financial services provider reported earnings per share (EPS) of $0.91 for the quarter. The company had revenue of $50.05 million in the quarter. MidWestOne Financial Group achieved a return on equity of 13.24% and a net margin of 31.70%.

A number of other analysts have also recently commented on the company. StockNews.com upgraded MidWestOne Financial Group from a “hold” rating to a “buy” rating in a Wednesday, March 16 research report. Zacks Investment Research moved shares of MidWestOne Financial Group from a “hold” rating to a “buy” rating and set a price target of $36.00 for the stock in a Wednesday, Jan. 5 research note.

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The NASDAQ MOFG opened Wednesday at $33.23. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt ratio of 0.29. MidWestOne Financial Group has a fifty-two week low of $27.08 and a fifty-two week high of $34.65. The company has a fifty-day moving average of $31.68 and a 200-day moving average of $31.66. The stock has a market capitalization of $521.38 million, a price-earnings ratio of 7.60 and a beta of 0.95.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 received a dividend of $0.237 per share. This represents a dividend of $0.95 on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Monday, February 28. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.23. MidWestOne Financial Group’s dividend payout ratio is currently 21.74%.

Hedge funds have recently been buying and selling shares of the company. California State Teachers Retirement System increased its stake in MidWestOne Financial Group by 1.7% in the third quarter. California State Teachers Retirement System now owns 20,215 shares of the financial services provider valued at $610,000 after buying 339 additional shares in the last quarter. Shell Asset Management Co. increased its stake in shares of MidWestOne Financial Group by 2.9% during the 4th quarter. Shell Asset Management Co. now owns 18,149 shares of the financial services provider valued at $587,000 after acquiring 504 additional shares in the last quarter. Royal Bank of Canada increased its holdings of MidWestOne Financial Group shares by 6.8% during the third quarter. Royal Bank of Canada now owns 9,988 shares of the financial services provider worth $302,000 after acquiring an additional 637 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of MidWestOne Financial Group by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 152,624 shares of the financial services provider worth $4,603,000 after acquiring an additional 720 shares in the last quarter. Finally, Credit Suisse AG increased its stake in MidWestOne Financial Group by 7.8% in the fourth quarter. Credit Suisse AG now owns 10,912 shares of the financial services provider valued at $354,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 64.99% of the company’s shares.

About MidWestOne Financial Group (Get a rating)

MidWestOne Financial Group, Inc is a financial holding company focused on providing relationship-based commercial and personal banking products and services through its banking subsidiary, MidWestOne Bank. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans and consumer loans.

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Earnings history and estimates for MidWestOne Financial Group (NASDAQ:MOFG)

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