FIG Partners Research Analysts Lower Earnings Estimates for MidWestOne Financial Group, Inc. (MOFG)

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) – FIG Partners cut their Q4 2018 earnings per share (EPS) estimates for shares of MidWestOne Financial Group in a report issued on Monday, November 19th. FIG Partners analyst B. Martin now forecasts that the financial services provider will post earnings of $0.64 per share for the quarter, down from their prior estimate of $0.71. FIG Partners also issued estimates for MidWestOne Financial Group’s Q1 2019 earnings at $0.60 EPS and FY2020 earnings at $3.25 EPS.

Several other research analysts have also recently commented on MOFG. BidaskClub upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, TheStreet cut shares of MidWestOne Financial Group from a “b” rating to a “c+” rating in a report on Thursday, November 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $36.50.

NASDAQ MOFG opened at $29.11 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.50. MidWestOne Financial Group has a 52 week low of $28.22 and a 52 week high of $37.67. The company has a market cap of $361.15 million, a price-to-earnings ratio of 14.27, a PEG ratio of 1.37 and a beta of 1.00.

Several institutional investors have recently modified their holdings of the company. Ramsey Quantitative Systems boosted its holdings in shares of MidWestOne Financial Group by 75.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 3,622 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,562 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of MidWestOne Financial Group by 11.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,561 shares of the financial services provider’s stock valued at $830,000 after buying an additional 2,500 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of MidWestOne Financial Group by 6.0% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 45,310 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 2,570 shares in the last quarter. IndexIQ Advisors LLC boosted its holdings in shares of MidWestOne Financial Group by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 68,286 shares of the financial services provider’s stock valued at $2,275,000 after buying an additional 2,579 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its holdings in shares of MidWestOne Financial Group by 55.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $289,000 after buying an additional 3,092 shares in the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

In related news, insider Charles N. Funk bought 1,000 shares of the stock in a transaction dated Thursday, August 30th. The stock was acquired at an average price of $33.50 per share, for a total transaction of $33,500.00. Following the acquisition, the insider now owns 104,829 shares in the company, valued at approximately $3,511,771.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 2,950 shares of company stock valued at $93,100. Company insiders own 7.20% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Saturday, December 1st will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, November 29th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 43.09%.

MidWestOne Financial Group Company Profile

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. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.

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Earnings History and Estimates for MidWestOne Financial Group (NASDAQ:MOFG)

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