Wall Street analysts forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Rating) will announce sales of $49.25 million for the current quarter, according to Zacks. Two analysts have provided estimates for MidWestOne Financial Group’s earnings, with estimates ranging from $48.30 million to $50.20 million. MidWestOne Financial Group posted sales of $48.72 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that MidWestOne Financial Group will report full-year sales of $202.35 million for the current fiscal year, with estimates ranging from $200.10 million to $204.60 million. For the next financial year, analysts expect that the firm will post sales of $217.35 million, with estimates ranging from $215.60 million to $219.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.05. MidWestOne Financial Group had a net margin of 28.49% and a return on equity of 11.80%. The business had revenue of $48.98 million for the quarter, compared to analyst estimates of $47.20 million.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of MidWestOne Financial Group by 5.6% in the first quarter. BlackRock Inc. now owns 1,058,704 shares of the financial services provider’s stock valued at $35,041,000 after buying an additional 56,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MidWestOne Financial Group by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 585,754 shares of the financial services provider’s stock worth $19,389,000 after purchasing an additional 18,442 shares during the period. The Manufacturers Life Insurance Company boosted its position in MidWestOne Financial Group by 33.8% during the first quarter. The Manufacturers Life Insurance Company now owns 469,031 shares of the financial services provider’s stock worth $15,525,000 after purchasing an additional 118,547 shares during the period. State Street Corp boosted its position in MidWestOne Financial Group by 2.6% during the first quarter. State Street Corp now owns 293,967 shares of the financial services provider’s stock worth $9,730,000 after purchasing an additional 7,424 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in MidWestOne Financial Group by 1.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 260,368 shares of the financial services provider’s stock worth $8,429,000 after purchasing an additional 4,448 shares during the period. 65.04% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:MOFG opened at $30.43 on Tuesday. The company has a market capitalization of $477.14 million, a price-to-earnings ratio of 7.80 and a beta of 0.96. The firm’s 50 day simple moving average is $30.69 and its 200 day simple moving average is $31.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.62. MidWestOne Financial Group has a fifty-two week low of $27.08 and a fifty-two week high of $34.65.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.2375 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.24. This represents a $0.95 annualized dividend and a dividend yield of 3.12%. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 24.36%.
MidWestOne Financial Group Company Profile (Get Rating)
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, governmental units, and institutional customers. It offers deposit products, such as noninterest bearing and interest-bearing demand deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit, and time deposits.
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