The analyst writes that despite shares of MidWestOne responding positively to its equity raise and balance sheet restructuring in September, its valuation remains attractive, with shares trading at a ~20% P/E and ~8% P/TBV discount to competitors.
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Midwestone Financial Group(IOWA)
Country
US
Industry
Financials
Market Cap
Small Cap
Num. Employees
811
IPO Date
Mar 17, 2008
Country
US
Industry
Financials
MidWestOne Financial Group, Inc. is a financial holding company, focuses on delivering relationship-based business and personal banking products and services through its bank subsidiary, MidWestOne Bank. The company is headquartered in Iowa City, Iowa and currently employs 811 full-time employees. The company went IPO on 2008-03-17. The Company’s principal business is to serve as the holding company for its subsidiary, MidWestOne Bank (the Bank). The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans, and consumer loans. The company provides deposit products, including demand and interest checking accounts, savings accounts, money market accounts, and time deposits. The Bank’s products and services, including treasury management, Zelle, online and mobile banking, debit cards, automated teller machines, and safe deposit boxes. The Bank also has a trust department, through which it offers services, including the administration of estates, personal trusts, and conservatorships and the management of real property. The company provides a range of commercial and retail lending services to businesses, individuals and government agencies.
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