Equities research analysts predict that MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Rating) will post sales of $49.25 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MidWestOne Financial Group’s earnings, with the lowest sales estimate coming in at $48.30 million and the highest estimate coming in at $50.20 million. MidWestOne Financial Group reported sales of $48.72 million in the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The business is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that MidWestOne Financial Group will report full year sales of $202.35 million for the current year, with estimates ranging from $200.10 million to $204.60 million. For the next fiscal year, analysts anticipate that the business will post sales of $217.35 million, with estimates ranging from $215.60 million to $219.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. MidWestOne Financial Group had a net margin of 28.49% and a return on equity of 11.80%.
Several institutional investors and hedge funds have recently bought and sold shares of MOFG. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of MidWestOne Financial Group during the first quarter worth $3,033,000. BlackRock Inc. increased its position in shares of MidWestOne Financial Group by 5.6% during the first quarter. BlackRock Inc. now owns 1,058,704 shares of the financial services provider’s stock worth $35,041,000 after buying an additional 56,530 shares during the period. FJ Capital Management LLC increased its position in shares of MidWestOne Financial Group by 94.5% during the first quarter. FJ Capital Management LLC now owns 70,012 shares of the financial services provider’s stock worth $2,317,000 after buying an additional 34,012 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of MidWestOne Financial Group by 9.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 350,484 shares of the financial services provider’s stock worth $11,345,000 after buying an additional 29,488 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 buying an additional 18,442 shares during the period. Institutional investors own 65.04% of the company’s stock.
Shares of NASDAQ MOFG opened at $29.51 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 0.62. MidWestOne Financial Group has a 52-week low of $27.08 and a 52-week high of $34.65. The firm has a 50 day moving average price of $31.44 and a two-hundred day moving average price of $31.91. The stock has a market cap of $462.72 million, a P/E ratio of 7.57 and a beta of 0.97.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.2375 per share. 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 3.22%. MidWestOne Financial Group’s dividend payout ratio is 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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