MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Announces Dividend Increase – $0.17 Per Share

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) declared a quarterly dividend on Tuesday, July 18th, Zacks reports. Investors of record on Friday, September 1st will be paid a dividend of 0.17 per share by the financial services provider on Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 30th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17.

Shares of MidWestOne Financial Group (NASDAQ MOFG) traded down 0.60% during trading on Friday, hitting $32.98. The company had a trading volume of 25,134 shares. MidWestOne Financial Group has a 1-year low of $27.93 and a 1-year high of $39.20. The firm has a market capitalization of $402.95 million, a P/E ratio of 16.05 and a beta of 1.23. The company’s 50 day moving average is $34.36 and its 200 day moving average is $35.04.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. MidWestOne Financial Group had a return on equity of 7.55% and a net margin of 17.60%. The firm had revenue of $31.57 million during the quarter, compared to analyst estimates of $31.17 million. Analysts anticipate that MidWestOne Financial Group will post $2.45 earnings per share for the current fiscal year.

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Several research firms have commented on MOFG. BidaskClub lowered MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies set a $37.00 target price on MidWestOne Financial Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods started coverage on MidWestOne Financial Group in a report on Monday, April 17th. They set an “outperform” rating and a $40.00 target price on the stock.

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.

Dividend History for MidWestOne Financial Group (NASDAQ:MOFG)

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