NasdaqGS:MOFG

Stock Analysis Report

MidWestOne Financial Group

Executive Summary

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.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.


Similar Companies

Share Price & News

How has MidWestOne Financial Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.2%

MOFG

4.1%

US Banks

1.0%

US Market


1 Year Return

0.5%

MOFG

7.2%

US Banks

8.0%

US Market

Return vs Industry: MOFG underperformed the US Banks industry which returned 7.2% over the past year.

Return vs Market: MOFG underperformed the US Market which returned 8% over the past year.


Shareholder returns

MOFGIndustryMarket
7 Day3.2%4.1%1.0%
30 Day1.3%2.8%-0.07%
90 Day9.6%2.9%-1.0%
1 Year3.3%0.5%10.3%7.2%10.4%8.0%
3 Year10.0%2.7%53.9%43.3%46.2%36.7%
5 Year41.6%26.8%71.9%53.1%64.3%46.2%

Price Volatility Vs. Market

How volatile is MidWestOne Financial Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MidWestOne Financial Group undervalued compared to its fair value and its price relative to the market?

29.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MOFG ($31.45) is trading below our estimate of fair value ($44.29)

Significantly Below Fair Value: MOFG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MOFG is good value based on its PE Ratio (12.5x) compared to the Banks industry average (12.6x).

PE vs Market: MOFG is good value based on its PE Ratio (12.5x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: MOFG is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: MOFG is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is MidWestOne Financial Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

26.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOFG's forecast earnings growth (26.4% per year) is above the savings rate (2.7%).

Earnings vs Market: MOFG's earnings (26.4% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MOFG's revenue (10.1% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: MOFG's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MOFG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has MidWestOne Financial Group performed over the past 5 years?

7.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MOFG's earnings have grown by 7.2% per year over the past 5 years.

Accelerating Growth: MOFG's earnings growth over the past year (56.3%) exceeds its 5-year average (7.2% per year).

Earnings vs Industry: MOFG earnings growth over the past year (56.3%) exceeded the Banks industry 30.1%.


Return on Equity

High ROE: MOFG's Return on Equity (6.6%) is considered low.


Return on Assets

ROA vs Industry: MOFG's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate MOFG's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is MidWestOne Financial Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MOFG has a low level of unsold assets or inventory.

Debt Coverage by Assets: MOFG's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

Asset Level: MOFG's level of assets compared to its equity is low.

Allowance for Bad Loans: MOFG has a low allowance for bad loans.

Low Risk Liabilities: MOFG's liabilities are made up of primarily low risk sources of funding.

Loan Level: MOFG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MOFG's loans are broadly funded by customer deposits.

Level of Bad Loans: MOFG has an appropriate level of bad loans (1.02%)


Next Steps

Dividend

What is MidWestOne Financial Group's current dividend yield, its reliability and sustainability?

2.57%

Current Dividend Yield


Dividend Yield vs Market

company2.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years2.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MOFG's dividend (2.58%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: MOFG's dividend (2.58%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: MOFG's dividend payments have been volatile in the past 10 years.

Growing Dividend: MOFG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.6%), MOFG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of MidWestOne Financial Group's salary, the management and board of directors tenure and is there insider trading?

2.7yrs

Average management tenure


CEO

Charlie Funk (65yo)

11.6yrs

Tenure

US$773,617

Compensation

Mr. Charles N. Funk, also known as Charlie, has been the President and Chief Executive Officer of MidWestOne Financial Group, Inc. since March 2008 and MidWestOne Bank since November 2000. Formerly, he hel ...


CEO Compensation Analysis

Compensation vs. Market: Charlie's total compensation ($USD773.62K) is about average for companies of similar size in the US market ($USD1.82M).

Compensation vs Earnings: Charlie's compensation has increased by more than 20% in the past year.


Management Age and Tenure

2.7yrs

Average Tenure

52.5yo

Average Age

Experienced Management: MOFG's management team is considered experienced (2.7 years average tenure).


Board Age and Tenure

4.4yrs

Average Tenure

65.5yo

Average Age

Experienced Board: MOFG's board of directors are considered experienced (4.4 years average tenure).


Insider Trading

Insider Buying: MOFG insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

BuyUS$6,97504 Sep 19
Janet Godwin
EntityIndividual
Shares247
Max PriceUS$28.24
BuyUS$14,13204 Sep 19
Douglas True
EntityIndividual
Shares500
Max PriceUS$28.27
SellUS$45,13830 Jul 19
Kurt Weise
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,500
Max PriceUS$30.11
SellUS$4,96018 Jun 19
Kevin Kramer
EntityIndividual
Shares175
Max PriceUS$28.34
SellUS$28,14506 Jun 19
Kurt Weise
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,000
Max PriceUS$28.15
BuyUS$13,93405 Jun 19
Douglas True
EntityIndividual
Shares500
Max PriceUS$27.87
BuyUS$29,03607 May 19
Richard Hartig
EntityIndividual
Shares1,000
Max PriceUS$29.04
BuyUS$2,84006 May 19
Matthew Hayek
EntityIndividual
Shares100
Max PriceUS$28.40
BuyUS$7,28419 Nov 18
Charles Funk
EntityIndividual
Role
Chief Executive Officer
President
Shares250
Max PriceUS$29.20
BuyUS$2,87502 Nov 18
Charles Funk
EntityIndividual
Role
Chief Executive Officer
President
Shares100
Max PriceUS$28.75
BuyUS$10,03831 Oct 18
Charles Funk
EntityIndividual
Role
Chief Executive Officer
President
Shares350
Max PriceUS$28.68
BuyUS$20,43131 Oct 18
Richard Donohue
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares700
Max PriceUS$29.57

Ownership Breakdown


Management Team

  • Charlie Funk (65yo)

    President

    • Tenure: 11.6yrs
    • Compensation: US$773.62k
  • Greg Turner (47yo)

    Senior Vice President of Wealth Management

    • Tenure: 0yrs
    • Compensation: US$151.28k
  • Jim Cantrell (59yo)

    Chief Investment Officer

    • Tenure: 0yrs
    • Compensation: US$380.92k
  • Mitch Cook (54yo)

    Senior Regional President of Minnesota & Wisconsin

    • Tenure: 4.4yrs
    • Compensation: US$394.49k
  • Joe Van Haselen

    Regional President of Denver Area

    • Tenure: 2.7yrs
  • Barry Ray (47yo)

    CFO, Principal Accounting Officer & Senior VP

    • Tenure: 1.3yrs
    • Compensation: US$622.99k
  • Karin Taylor (51yo)

    Senior VP & Chief Risk Officer

    • Tenure: 0yrs
  • Kevin Conroy

    Senior Vice President of The Denver Market

    • Tenure: 2.7yrs
  • Lynda Whittle

    Senior Vice President of Marketing

    • Tenure: 0yrs
  • John Henk

    Senior VP & Chief Information Officer

    • Tenure: 0yrs

Board Members

  • Kurt Weise (63yo)

    Director

    • Tenure: 4.4yrs
    • Compensation: US$50.61k
  • Charlie Funk (65yo)

    President

    • Tenure: 11.6yrs
    • Compensation: US$773.62k
  • Larry Albert (68yo)

    Independent Director

    • Tenure: 1yrs
    • Compensation: US$45.26k
  • Richard Donohue (69yo)

    Independent Director

    • Tenure: 11.6yrs
    • Compensation: US$74.41k
  • Kevin Monson (68yo)

    Independent Chairman of the Board

    • Tenure: 3.5yrs
    • Compensation: US$56.56k
  • R. Zaiser (58yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: US$54.06k
  • Richard Schwab (66yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: US$64.41k
  • John Koza (73yo)

    Non-Voting Director Emeritus

    • Tenure: 0yrs
    • Compensation: US$9.21k
  • Tracy McCormick (59yo)

    Lead Independent Director

    • Tenure: 2.5yrs
    • Compensation: US$64.21k
  • Ruth Stanoch (60yo)

    Independent Director

    • Tenure: 4.4yrs
    • Compensation: US$53.71k

Company Information

MidWestOne Financial Group, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MidWestOne Financial Group, Inc.
  • Ticker: MOFG
  • Exchange: NasdaqGS
  • Founded: 1983
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$510.035m
  • Shares outstanding: 16.22m
  • Website: https://www.midwestone.com

Number of Employees


Location

  • MidWestOne Financial Group, Inc.
  • 102 South Clinton Street
  • Iowa City
  • Iowa
  • 52240
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MOFGNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJun 1998

Biography

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 custome ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 00:20
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.