NasdaqGS:MOFG

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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. More Details


Snowflake Analysis

Flawless balance sheet average dividend payer.


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

Stable Share Price: MOFG is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: MOFG's weekly volatility (8%) has been stable over the past year.


Market Performance


7 Day Return

0.5%

MOFG

6.0%

US Banks

2.8%

US Market


1 Year Return

-27.8%

MOFG

-17.4%

US Banks

20.9%

US Market

Return vs Industry: MOFG underperformed the US Banks industry which returned -17.3% over the past year.

Return vs Market: MOFG underperformed the US Market which returned 20.7% over the past year.


Shareholder returns

MOFGIndustryMarket
7 Day0.5%6.0%2.8%
30 Day15.4%23.6%11.1%
90 Day26.0%17.6%6.5%
1 Year-25.6%-27.8%-14.3%-17.4%23.6%20.9%
3 Year-24.7%-30.6%-3.9%-11.9%47.3%37.6%
5 Year-13.1%-23.0%35.9%18.9%94.3%72.9%

Long-Term 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?

120.57x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MOFG ($24.55) is trading above our estimate of fair value ($17.58)

Significantly Below Fair Value: MOFG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MOFG is poor value based on its PE Ratio (120.6x) compared to the US Banks industry average (11.4x).

PE vs Market: MOFG is poor value based on its PE Ratio (120.6x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: MOFG is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: MOFG is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.9x).


Next Steps

Future Growth

How is MidWestOne Financial Group forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

100.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOFG's forecast earnings growth (100% per year) is above the savings rate (2.2%).

Earnings vs Market: MOFG's earnings (100% per year) are forecast to grow faster than the US market (22% per year).

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

Revenue vs Market: MOFG's revenue is expected to decline over the next 3 years (-2.2% per year).

High Growth Revenue: MOFG's revenue is forecast to decline over the next 3 years (-2.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MOFG's Return on Equity is forecast to be low in 3 years time (7.4%).


Next Steps

Past Performance

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

5.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MOFG has a large one-off loss of $34.8M impacting its September 30 2020 financial results.

Growing Profit Margin: MOFG's current net profit margins (2.1%) are lower than last year (25.5%).


Past Earnings Growth Analysis

Earnings Trend: MOFG's earnings have grown by 5.9% per year over the past 5 years.

Accelerating Growth: MOFG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MOFG had negative earnings growth (-91.3%) over the past year, making it difficult to compare to the Banks industry average (-4.3%).


Return on Equity

High ROE: MOFG's Return on Equity (0.7%) is considered low.


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


Financial Institutions Analysis

Asset Level: MOFG's Assets to Equity ratio (10.7x) is moderate.

Allowance for Bad Loans: MOFG has a sufficient allowance for bad loans (140%).

Low Risk Liabilities: 90% of MOFG's liabilities are made up of primarily low risk sources of funding.

Loan Level: MOFG has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: MOFG's Loans to Deposits ratio (80%) is appropriate.

Level of Bad Loans: MOFG has an appropriate level of bad loans (1.2%).


Next Steps

Dividend

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

3.58%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MOFG's dividend (3.58%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: MOFG's dividend (3.58%) is low compared to the top 25% of dividend payers in the US market (4.08%).


Stability and Growth of Payments

Stable Dividend: MOFG's dividends per share have been stable 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 high payout ratio (423.6%), MOFG's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MOFG's dividends in 3 years are forecast to be well covered by earnings (35.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Charlie Funk (66 yo)

12.67yrs

Tenure

US$952,242

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Charlie's total compensation ($USD952.24K) is below average for companies of similar size in the US market ($USD1.79M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Charles Funk
CEO & Director12.67yrsUS$952.24k0.69%
$ 2.7m
Barry Ray
CFO & Senior Executive VP2.42yrsUS$559.30k0.024%
$ 96.7k
James Cantrell
Chief Investment Officerno dataUS$394.26k0.083%
$ 326.5k
Gregory Turner
Vice President of Wealth Management & Corporate Communicationsno dataUS$390.52k0.047%
$ 185.6k
Len Devaisher
President & COO0.33yrno data0.012%
$ 49.1k
John Henk
Senior VP & Chief Information Officerno datano datano data
Peggy Hudson
Senior VP & Chief Marketing Officerno datano datano data
Sondra Harney
VP & Chief Human Resources Officerno datano datano data
Joe Van Haselen
Regional President of Denver Area3.75yrsno datano data
Kevin Conroy
Senior Vice President of The Denver Market3.75yrsno datano data
Mitchell Cook
Senior Regional President of Minnesota & Wisconsin5.5yrsUS$394.49kno data
R. Lang
Senior VP & Residential Mortgage Division Managerno datano datano data

3.8yrs

Average Tenure

55yo

Average Age

Experienced Management: MOFG's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Charles Funk
CEO & Director12.67yrsUS$952.24k0.69%
$ 2.7m
Kurt Weise
Director5.5yrsUS$46.69k0.16%
$ 641.6k
Douglas Greeff
Independent Director1.5yrsUS$32.37k0.024%
$ 96.7k
Larry Albert
Independent Director2.08yrsUS$53.04k0.065%
$ 255.8k
Richard Donohue
Independent Director12.67yrsUS$70.86k0.22%
$ 885.1k
Kevin Monson
Independent Chairman of the Board4.58yrsUS$60.65k0.54%
$ 2.1m
John Koza
Non-Voting Director Emeritusno dataUS$9.21k5.48%
$ 21.7m
Jennifer Hauschildt
Independent Director1.83yrsUS$50.29k0.0077%
$ 30.4k
Tracy McCormick
Lead Independent Director3.58yrsUS$65.54k0.53%
$ 2.1m
Ruth Stanoch
Independent Director5.5yrsUS$53.89k0.022%
$ 85.4k
Douglas True
Independent Director3.58yrsUS$62.74k0.029%
$ 112.7k
Nathaniel Kaeding
Independent Director2.58yrsUS$51.54k0.0080%
$ 31.6k

3.6yrs

Average Tenure

65yo

Average Age

Experienced Board: MOFG's board of directors are considered experienced (3.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$395.165m
  • Shares outstanding: 16.10m
  • 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 Analysis2020/11/28 23:33
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.