Announcement • Jan 07
MidWestOne Financial Group, Inc. Declares Cash Dividend, Payable January 30, 2026 MidWestOne Financial Group, Inc. announced that a sub-committee of directors, appointed by resolution of the full Board of Directors, declared a cash dividend of $0.2425 per common share on January 6, 2026. The dividend is payable January 30, 2026, to shareholders of record at the close of business on January 16, 2026. Upcoming Dividend • Nov 24
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 01 December 2025. Payment date: 15 December 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (2.5%). Recent Insider Transactions • Nov 03
CEO & Director recently bought US$110k worth of stock On the 31st of October, Charles Reeves bought around 3k shares on-market at roughly US$36.58 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of US$300k worth in shares. Declared Dividend • Nov 02
Third quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (29% forecast payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 30
MidWestOne Financial Group, Inc. Declares Cash Dividend, Payable on December 15, 2025 The Board of MidWestOne Financial Group, Inc. declared a cash dividend of $0.2425 per common share on October 28, 2025. The dividend is payable December 15, 2025, to shareholders of record at the close of business on December 1, 2025. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$36.07, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Banks industry in the US. Total returns to shareholders of 23% over the past three years. Price Target Changed • Oct 27
Price target increased by 11% to US$36.75 Up from US$33.20, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$38.53. The company is forecast to post earnings per share of US$2.84 next year compared to a net loss per share of US$3.54 last year. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: US$0.82 (up from US$6.05 loss in 3Q 2024). Net income: US$17.0m (up US$112.7m from 3Q 2024). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 2.8%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Oct 11
MidWestOne Financial Group, Inc. to Report Q3, 2025 Results on Oct 23, 2025 MidWestOne Financial Group, Inc. announced that they will report Q3, 2025 results After-Market on Oct 23, 2025 Upcoming Dividend • Aug 26
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 02 September 2025. Payment date: 16 September 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.5%). Recent Insider Transactions • Jul 31
CEO & Director recently bought US$140k worth of stock On the 29th of July, Charles Reeves bought around 5k shares on-market at roughly US$28.04 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of US$190k worth in shares. Declared Dividend • Jul 28
Second quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 2nd September 2025 Payment date: 16th September 2025 Dividend yield will be 3.5%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. New Risk • Jul 25
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Paying a dividend despite being loss-making. Announcement • Jul 12
MidWestOne Financial Group, Inc. to Report Q2, 2025 Results on Jul 24, 2025 MidWestOne Financial Group, Inc. announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Announcement • Jun 30
MidWestOne Financial Group, Inc.(NasdaqGS:MOFG) dropped from Russell 2000 Dynamic Index MidWestOne Financial Group, Inc.(NasdaqGS:MOFG) dropped from Russell 2000 Dynamic Index Upcoming Dividend • May 26
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 02 June 2025. Payment date: 16 June 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (2.8%). Declared Dividend • Apr 28
First quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 2nd June 2025 Payment date: 16th June 2025 Dividend yield will be 3.4%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Apr 12
MidWestOne Financial Group, Inc. to Report Q1, 2025 Results on Apr 24, 2025 MidWestOne Financial Group, Inc. announced that they will report Q1, 2025 results After-Market on Apr 24, 2025 Announcement • Mar 12
MidWestOne Financial Group, Inc., Annual General Meeting, Apr 22, 2025 MidWestOne Financial Group, Inc., Annual General Meeting, Apr 22, 2025. Location: graduate hotel, 210 south dubuque street, iowa 52240., iowa city United States Upcoming Dividend • Feb 24
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 03 March 2025. Payment date: 17 March 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.6%). Declared Dividend • Jan 27
Fourth quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 3rd March 2025 Payment date: 17th March 2025 Dividend yield will be 3.0%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is expected to be well covered in 3 years' time (30% forecast payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Paying a dividend despite being loss-making. Announcement • Jan 11
MidWestOne Financial Group, Inc. to Report Q4, 2024 Results on Jan 23, 2025 MidWestOne Financial Group, Inc. announced that they will report Q4, 2024 results After-Market on Jan 23, 2025 Upcoming Dividend • Nov 25
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 02 December 2024. Payment date: 16 December 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (2.5%). Price Target Changed • Nov 18
Price target increased by 7.2% to US$33.50 Up from US$31.25, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$32.21. Stock is up 49% over the past year. The company is forecast to post a net loss per share of US$4.02 compared to earnings per share of US$1.33 last year. Declared Dividend • Oct 28
Third quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 2nd December 2024 Payment date: 16th December 2024 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is expected to be well covered in 3 years' time (31% forecast payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. New Risk • Oct 25
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Current dividend yield: 3.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (32% increase in shares outstanding). Announcement • Oct 25
MidWestOne Financial Group, Inc. Declares Cash Dividend, Payable on December 16, 2024 The Board of Directors of the MidWestOne Financial Group, Inc. declared a cash dividend of $0.2425 per common share on October 23, 2024. The dividend is payable December 16, 2024, to shareholders of record at the close of business on December 2, 2024. Announcement • Oct 12
MidWestOne Financial Group, Inc. to Report Q3, 2024 Results on Oct 24, 2024 MidWestOne Financial Group, Inc. announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 New Risk • Sep 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Upcoming Dividend • Aug 27
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 17 September 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.8%). Price Target Changed • Aug 01
Price target increased by 11% to US$30.40 Up from US$27.38, the current price target is an average from 5 analysts. New target price is 6.9% above last closing price of US$28.43. Stock is up 19% over the past year. The company is forecast to post earnings per share of US$2.43 for next year compared to US$1.33 last year. Major Estimate Revision • Aug 01
Consensus EPS estimates increase by 28% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.91 to US$2.43. Revenue forecast steady at US$192.9m. Net income forecast to grow 32% next year vs 8.5% growth forecast for Banks industry in the US. Consensus price target up from US$27.38 to US$29.00. Share price rose 2.7% to US$29.31 over the past week. Price Target Changed • Jul 29
Price target increased by 13% to US$28.40 Up from US$25.10, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$29.02. Stock is up 18% over the past year. The company is forecast to post earnings per share of US$2.40 for next year compared to US$1.33 last year. Declared Dividend • Jul 29
Second quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 3rd September 2024 Payment date: 17th September 2024 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 6.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$1.00 (up from US$0.48 in 2Q 2023). Revenue: US$56.6m (up 28% from 2Q 2023). Net income: US$15.8m (up 108% from 2Q 2023). Profit margin: 28% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 25%. Earnings per share (EPS) exceeded analyst estimates by 94%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jul 26
Midwestonefinancial Group, Inc. Declares Cash Dividend, Payable on September 17, 2024 On July 23, 2024, the Board of Directors of MidWestOne Financial Group, Inc. declared a cash dividend of $0.2425 per common share. The dividend is payable September 17, 2024, to shareholders of record at the close of business on September 3, 2024. Price Target Changed • Jul 23
Price target increased by 9.1% to US$27.38 Up from US$25.10, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$28.14. Stock is up 18% over the past year. The company is forecast to post earnings per share of US$1.91 for next year compared to US$1.33 last year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$25.13, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 1.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$31.61 per share. Announcement • Jul 13
MidWestOne Financial Group, Inc. to Report Q2, 2024 Results on Jul 25, 2024 MidWestOne Financial Group, Inc. announced that they will report Q2, 2024 results After-Market on Jul 25, 2024 Recent Insider Transactions • Jun 13
Director recently sold US$79k worth of stock On the 12th of June, Charles Funk sold around 4k shares on-market at roughly US$20.88 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$143k. Insiders have been net sellers, collectively disposing of US$187k more than they bought in the last 12 months. Announcement • Jun 05
MidWestOneFinancial Group, Inc Announces Executive Appointments MidWestOneFinancial Group, Inc. announced the hiring of three new executive leaders: Paul Ho-Sing-Loy, Executive Vice President and Chief Information Officer; Steve Heimermann, Executive Vice President and Head of Wealth Management; and Elda Macias, Senior Vice President and Chief Marketing Officer. MidWestOne Financial Group has introduced a new strategic plan emphasizing expertise, customer experience and deep relationships, and these hires will propel progress in reaching that objective. Paul Ho-Sing-Loy, Executive Vice President and Chief Information Officer, is a dynamic and highly accomplished business and technology leader with an outstanding record of success. He joins MidWestOne from Lakeland Bank, where he served as Executive Vice President and Chief Information Officer, and focused on digital strategies, cybersecurity initiatives, and devised the technology roadmap that assisted Lakeland in scaling from $5 billion in assets to $11 billion. Paul also has experience with large national banks such as Wells Fargo and Bank of America. Paul received a Bachelor of Computer Science at Cornell University. Steve Heimermann, Executive Vice President and Head of Wealth Management, is a passionate wealth management leader with a demonstrated history of team performance and client satisfaction. He joins MidWestOne from Northern Trust Corporation where he was a Senior Vice President and Regional Senior Investment Officer, overseeing the investment teams in six Midwest markets, and serving as portfolio manager for a select group of high-net-worth clients. Steve refined his wealth management expertise at organizations such as Associated Bank and BMO Harris Private Banking. Steve received a Bachelor of Business, Finance/Management Information Systems at the University of Wisconsin Oshkosh, and a Master’s of Business Administration at the University of Minnesota, Carlson School of Management. Steve Heimermann is based out of Golden Valley, Minnesota. Elda Macias, Senior Vice President and Chief Marketing Officer, is a customer-obsessed marketing leader with proven success leading marketing strategy, digital transformation, and customer experience. She joins MidWestOne from Securian Financial where she developed and led a customer experience strategy and practice, with a focus on digital transformation, in addition to responsibility for the U.S and Canadian websites, customer insights, and user experience. She has been a marketing leader with a focus on segmentation at Ameriprise Financial and Wells Fargo. Elda received a Bachelor of Arts, Communications, at the University of Texas at El Paso, and a Master’s of Business Administration at the University of Minnesota, Carlson School of Management. Elda Macias is based out of Golden Valley, Minnesota. Upcoming Dividend • May 27
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.0%). Recent Insider Transactions • May 09
Director recently sold US$128k worth of stock On the 7th of May, Charles Funk sold around 6k shares on-market at roughly US$21.36 per share. This transaction amounted to 4.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$163k more than they sold in the last 12 months. Declared Dividend • Apr 29
First quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
Midwestonefinancial Group, Inc. Declares Cash Dividend, Payable on June 17, 2024 MidWestOneFinancial Group, Inc. declared a cash dividend of $0.2425 per common share. The dividend is payable June 17, 2024, to shareholders of record at the close of business on June 3, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.21 (up from US$0.089 in 1Q 2023). Revenue: US$39.8m (up 13% from 1Q 2023). Net income: US$3.27m (up 134% from 1Q 2023). Profit margin: 8.2% (up from 4.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 14% per year. Announcement • Apr 13
MidWestOne Financial Group, Inc. to Report Q1, 2024 Results on Apr 25, 2024 MidWestOne Financial Group, Inc. announced that they will report Q1, 2024 results After-Market on Apr 25, 2024 Recent Insider Transactions • Mar 12
CEO & Director recently bought US$100k worth of stock On the 11th of March, Charles Reeves bought around 4k shares on-market at roughly US$22.49 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of US$392k worth in shares. Reported Earnings • Mar 10
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$1.33 (down from US$3.89 in FY 2022). Revenue: US$156.7m (down 25% from FY 2022). Net income: US$20.9m (down 66% from FY 2022). Profit margin: 13% (down from 29% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.46% (down from 2.92% in FY 2022). Cost-to-income ratio: 67.3% (up from 57.0% in FY 2022). Non-performing loans: 0.64% (up from 0.41% in FY 2022). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Mar 09
MidWestOne Financial Group, Inc., Annual General Meeting, Apr 25, 2024 MidWestOne Financial Group, Inc., Annual General Meeting, Apr 25, 2024, at 14:00 Central Standard Time. Location: Graduate Hotel, located at 210 South Dubuque Street, Iowa City, Iowa Iowa City Iowa United States Agenda: To elect four individuals to serve as Class II members of the board of directors for terms expiring at the 2027 annual meeting of shareholders and until their successors are elected and have been qualified; to approve, on a non-binding, advisory basis, the compensation of our named executive officers, as described in the accompanying proxy statement, which is referred to as a say-on-pay" proposal; to approve, on a non-binding, advisory basis, the voting frequency for future say-on-pay" proposals; and to discuss other matters. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 15 March 2024. Trailing yield: 4.2%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.2%). Price Target Changed • Feb 14
Price target increased by 11% to US$29.67 Up from US$26.67, the current price target is an average from 3 analysts. New target price is 29% above last closing price of US$23.06. Stock is down 26% over the past year. The company is forecast to post earnings per share of US$2.26 for next year compared to US$1.33 last year. Declared Dividend • Jan 29
Fourth quarter dividend of US$0.24 announced Dividend of US$0.24 is the same as last year. Ex-date: 29th February 2024 Payment date: 15th March 2024 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (73% payout ratio) and is expected to be covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 6.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 87% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jan 28
Price target increased by 9.2% to US$27.67 Up from US$25.33, the current price target is an average from 3 analysts. New target price is 5.2% above last closing price of US$26.29. Stock is down 15% over the past year. The company is forecast to post earnings per share of US$2.19 for next year compared to US$1.33 last year. Reported Earnings • Jan 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$1.33 (down from US$3.89 in FY 2022). Revenue: US$156.7m (down 25% from FY 2022). Net income: US$20.9m (down 66% from FY 2022). Profit margin: 13% (down from 29% in FY 2022). The decrease in margin was driven by lower revenue. Non-performing loans: 0.64% (up from 0.41% in FY 2022). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Announcement • Jan 26
MidWestOne Financial Group, Inc. Declares Cash Dividend, Payable on March 15, 2024 On January 23, 2024, MidWestOne Financial Group, Inc. declared a cash dividend of $0.2425 per common share, payable on March 15, 2024 to shareholders of record as of the close of business on March 1, 2024. Announcement • Jan 13
MidWestOne Financial Group, Inc. to Report Q4, 2023 Results on Jan 25, 2024 MidWestOne Financial Group, Inc. announced that they will report Q4, 2023 results After-Market on Jan 25, 2024 Price Target Changed • Jan 10
Price target increased by 7.7% to US$26.67 Up from US$24.75, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$25.73. Stock is down 20% over the past year. The company is forecast to post earnings per share of US$1.64 for next year compared to US$3.89 last year. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.24 per share at 4.5% yield Eligible shareholders must have bought the stock before 30 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of American dividend payers (5.0%). Higher than average of industry peers (3.6%). Major Estimate Revision • Nov 02
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$172.6m to US$146.0m. EPS estimate fell from US$1.69 to US$1.65 per share. Net income forecast to grow 8.2% next year vs 9.9% decline forecast for Banks industry in the US. Consensus price target broadly unchanged at US$24.50. Share price was steady at US$19.71 over the past week. Announcement • Oct 28
Midwestone Financial Group, Inc. Declares Cash Dividend ,Payable December 15, 2023 MidWestOne Financial Group, Inc. declared a cash dividend of $0.2425 per common share. The dividend is payable December 15, 2023, to shareholders of record at the close of business on December 1, 2023. Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: US$0.58 (down from US$1.17 in 3Q 2022). Revenue: US$42.9m (down 24% from 3Q 2022). Net income: US$9.14m (down 50% from 3Q 2022). Profit margin: 21% (down from 33% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates by 1.8%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 14
MidWestOne Financial Group, Inc. to Report Q3, 2023 Results on Oct 26, 2023 MidWestOne Financial Group, Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Oct 26, 2023 Announcement • Sep 29
MidWestOne Financial Group, Inc. (NasdaqGS:MOFG) entered into a definitive merger agreement to acquire Denver Bankshares, Inc. (OTCPK:DNVB) for $32.6 million. MidWestOne Financial Group, Inc. (NasdaqGS:MOFG) entered into a definitive merger agreement to acquire Denver Bankshares, Inc. (OTCPK:DNVB) for $32.6 million on September 27, 2023. MidWestOne will pay $462.42 per share in cash to the shareholders of Denver Bankshares. The transaction is subject to Denver Bankshares shareholder approval and customary regulatory approvals. The transaction has been approved by the respective board of directors, and is expected to close in the first quarter of 2024. Piper Sandler & Co. served as financial advisor and Barack Ferrazzano Kirschbaum & Nagelberg LLP provided legal counsel to MidWest One . Brian Palmer and Christopher Olsen of Olsen Palmer LLC served as financial advisor and Spierer, Woodward, Corbalis & Goldberg provided legal counsel to Denver Bankshares. Announcement • Sep 27
DFCU Financial entered into a definitive purchase and assumption agreement to acquire Florida operations from MidWestOne Financial Group, Inc. (NasdaqGS:MOFG). DFCU Financial entered into a definitive purchase and assumption agreement to acquire Florida operations from MidWestOne Financial Group, Inc. (NasdaqGS:MOFG) on September 25, 2023. The transaction is an all-cash deal that includes the transfer of $158.8 million of deposits, $162.2 million in gross loans, and two branch locations. All Florida employees of MidWestOne are expected to be retained by DFCU, fulfilling similar roles as they currently hold at MidWestOne. Additionally, DFCU intends to keep both branches open following the completion of the transaction. The transaction is subject to all regulatory requirements and approvals. The transaction has been approved by the respective board of directors, and is expected to close in the second quarter of 2024. Hovde Group, LLC served as financial adviser and Barack Ferrazzano Kirschbaum & Nagelberg LLP provided legal counsel to MidWestOne. Donnelly Penman & Partners, Inc. served as financial adviser and Honigman LLP provided legal counsel to DFCU Financial. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.24 per share at 4.6% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of American dividend payers (4.9%). Higher than average of industry peers (3.7%). Major Estimate Revision • Aug 11
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$2.04 to US$1.68 per share. Revenue forecast steady at US$163.1m. Net income forecast to shrink 24% next year vs 11% decline forecast for Banks industry in the US. Consensus price target of US$26.00 unchanged from last update. Share price fell 4.0% to US$23.13 over the past week. 
