Wall Street brokerages expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to report earnings per share of $0.73 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for MidWestOne Financial Group’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.70. MidWestOne Financial Group posted earnings of $0.71 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The business is expected to report its next earnings results on Friday, July 26th.
On average, analysts expect that MidWestOne Financial Group will report full-year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.90 to $3.05. For the next financial year, analysts forecast that the company will report earnings of $3.11 per share, with EPS estimates ranging from $3.08 to $3.16. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.05). The firm had revenue of $31.39 million for the quarter, compared to the consensus estimate of $32.02 million. MidWestOne Financial Group had a net margin of 19.41% and a return on equity of 8.80%.
In related news, Director Richard J. Hartig bought 1,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $29.04 per share, with a total value of $29,040.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 1,600 shares of company stock valued at $45,815. 3.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in MidWestOne Financial Group by 3.0% in the 4th quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock worth $14,676,000 after purchasing an additional 17,183 shares during the period. Dimensional Fund Advisors LP grew its position in MidWestOne Financial Group by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock worth $9,540,000 after purchasing an additional 27,446 shares during the period. Thrivent Financial for Lutherans grew its position in MidWestOne Financial Group by 5.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock worth $6,850,000 after purchasing an additional 14,489 shares during the period. Northern Trust Corp grew its position in MidWestOne Financial Group by 0.9% in the 4th quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock worth $3,260,000 after purchasing an additional 1,141 shares during the period. Finally, Geode Capital Management LLC grew its position in MidWestOne Financial Group by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 106,610 shares of the financial services provider’s stock worth $2,647,000 after purchasing an additional 6,046 shares during the period. 33.91% of the stock is owned by institutional investors and hedge funds.
Shares of MOFG traded up $0.21 on Friday, hitting $27.58. 1,288 shares of the stock traded hands, compared to its average volume of 37,881. The stock has a market cap of $444.60 million, a P/E ratio of 10.86, a PEG ratio of 1.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $27.75. MidWestOne Financial Group has a one year low of $23.80 and a one year high of $35.20.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be given a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. MidWestOne Financial Group’s payout ratio is 31.89%.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including 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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