Favorable Press Coverage Somewhat Unlikely to Impact MidWestOne Financial Group (MOFG) Stock Price
News stories about MidWestOne Financial Group (NASDAQ:MOFG) have been trending positive this week, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. MidWestOne Financial Group earned a coverage optimism score of 0.37 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 48.3165080422144 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- MidWestOne Financial Group (MOFG) Announces Quarterly Earnings Results (americanbankingnews.com)
- MidWestOne Financial Group (MOFG) Receives Consensus Recommendation of “Hold” from Analysts (americanbankingnews.com)
- MidWestOne Financial Group (MOFG) Plans Quarterly Dividend of $0.20 (americanbankingnews.com)
- Brokerages Anticipate MidWestOne Financial Group (MOFG) Will Announce Quarterly Sales of $31.56 Million (americanbankingnews.com)
A number of research analysts have commented on the company. BidaskClub upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Sandler O’Neill reiterated a “buy” rating and issued a $39.00 price objective on shares of MidWestOne Financial Group in a research report on Friday, January 19th. Zacks Investment Research upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research report on Saturday, December 30th. Finally, ValuEngine lowered MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. MidWestOne Financial Group has an average rating of “Hold” and an average target price of $38.00.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. MidWestOne Financial Group had a return on equity of 6.45% and a net margin of 13.20%. The business had revenue of $31.95 million for the quarter. analysts forecast that MidWestOne Financial Group will post 2.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.78 annualized dividend and a dividend yield of 2.38%. MidWestOne Financial Group’s dividend payout ratio is currently 43.09%.
In related news, COO Kevin E. Kramer purchased 1,000 shares of MidWestOne Financial Group stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the transaction, the chief operating officer now directly owns 4,833 shares of the company’s stock, valued at $161,132.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. West purchased 3,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, February 5th. The stock was bought at an average price of $33.02 per share, for a total transaction of $99,060.00. The disclosure for this purchase can be found here. Insiders bought a total of 5,200 shares of company stock worth $172,059 over the last 90 days. 7.20% of the stock is owned by corporate insiders.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.
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