Analysts forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will post earnings of $0.82 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for MidWestOne Financial Group’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.80. MidWestOne Financial Group posted earnings per share of $0.64 during the same quarter last year, which indicates a positive year-over-year growth rate of 28.1%. The firm is expected to announce its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that MidWestOne Financial Group will report full-year earnings of $3.07 per share for the current year, with EPS estimates ranging from $2.91 to $3.18. For the next fiscal year, analysts anticipate that the business will report earnings of $3.16 per share, with EPS estimates ranging from $3.10 to $3.25. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.07). MidWestOne Financial Group had a net margin of 19.56% and a return on equity of 10.57%. The business had revenue of $51.26 million during the quarter, compared to analysts’ expectations of $48.20 million.
Shares of NASDAQ MOFG traded down $0.09 on Tuesday, hitting $35.01. The company’s stock had a trading volume of 79,000 shares, compared to its average volume of 26,953. MidWestOne Financial Group has a 12-month low of $23.80 and a 12-month high of $35.50. The stock has a 50 day moving average of $31.20 and a 200-day moving average of $29.31. The company has a market capitalization of $570.04 million, a price-to-earnings ratio of 13.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94.
In other news, Director Kurt R. Weise sold 1,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $31.77, for a total value of $31,770.00. Following the completion of the sale, the director now owns 2,731 shares of the company’s stock, valued at $86,763.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of MidWestOne Financial Group by 3.5% in the second quarter. First Trust Advisors LP now owns 31,371 shares of the financial services provider’s stock worth $877,000 after acquiring an additional 1,059 shares in the last quarter. Bessemer Group Inc. increased its position in shares of 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. Chicago Equity Partners LLC acquired a new stake in shares of MidWestOne Financial Group in the second quarter worth $224,000. JPMorgan Chase & Co. increased its position in shares of MidWestOne Financial Group by 100.4% in the second quarter. JPMorgan Chase & Co. now owns 5,456 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 2,734 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of MidWestOne Financial Group by 12.7% in the second quarter. Acadian Asset Management LLC now owns 17,545 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 1,983 shares during the period. 54.68% of the stock is owned by institutional investors.
About MidWestOne Financial Group
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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