$48.46 Million in Sales Expected for MidWestOne Financial Group, Inc. (NASDAQ:MOFG) This Quarter

Wall Street analysts expect that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will report sales of $48.46 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for MidWestOne Financial Group’s earnings, with estimates ranging from $47.70 million to $48.98 million. MidWestOne Financial Group posted sales of $32.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 49.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that MidWestOne Financial Group will report full-year sales of $172.70 million for the current fiscal year, with estimates ranging from $171.00 million to $175.70 million. For the next fiscal year, analysts expect that the company will report sales of $194.55 million, with estimates ranging from $192.30 million to $198.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MidWestOne Financial Group.

Several equities research analysts have recently weighed in on MOFG shares. ValuEngine raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. BidaskClub raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Wednesday, July 31st.

Shares of MOFG stock traded down $0.93 on Wednesday, hitting $29.07. The company had a trading volume of 15,500 shares, compared to its average volume of 24,824. The stock has a market cap of $481.82 million, a price-to-earnings ratio of 11.44 and a beta of 0.97. The company’s 50-day moving average price is $28.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94. MidWestOne Financial Group has a twelve month low of $23.80 and a twelve month high of $35.20.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.203 dividend. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 29th. This represents a $0.81 annualized dividend and a dividend yield of 2.79%. MidWestOne Financial Group’s dividend payout ratio is presently 31.89%.

In other news, Director Kurt R. Weise sold 1,500 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $30.09, for a total value of $45,135.00. Following the completion of the sale, the director now owns 2,731 shares of the company’s stock, valued at $82,175.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in MOFG. Northern Trust Corp boosted its holdings in MidWestOne Financial Group by 0.9% in the fourth quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock worth $3,260,000 after acquiring an additional 1,141 shares in the last quarter. AJO LP boosted its holdings in MidWestOne Financial Group by 2.2% in the first quarter. AJO LP now owns 87,809 shares of the financial services provider’s stock worth $2,393,000 after acquiring an additional 1,850 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MidWestOne Financial Group by 27.6% in the fourth quarter. Bank of New York Mellon Corp now owns 84,555 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 18,265 shares in the last quarter. Bessemer Group Inc. boosted its holdings in MidWestOne Financial Group by 16.1% in the second quarter. Bessemer Group Inc. now owns 23,800 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 3,300 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in MidWestOne Financial Group by 3.0% in the fourth quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock worth $14,676,000 after acquiring an additional 17,183 shares in the last quarter. Institutional investors own 33.88% of the company’s stock.

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

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