Wall Street brokerages expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to announce sales of $48.00 million for the current quarter, according to Zacks. Two analysts have provided estimates for MidWestOne Financial Group’s earnings, with the highest sales estimate coming in at $48.10 million and the lowest estimate coming in at $47.90 million. MidWestOne Financial Group reported sales of $32.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 48.3%. The business is scheduled to report its next earnings results on Thursday, January 23rd.
On average, analysts expect that MidWestOne Financial Group will report full year sales of $175.00 million for the current fiscal year, with estimates ranging from $174.40 million to $175.60 million. For the next financial year, analysts expect that the firm will report sales of $192.35 million, with estimates ranging from $191.80 million to $192.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.07). MidWestOne Financial Group had a net margin of 19.56% and a return on equity of 9.98%. The firm had revenue of $51.26 million during the quarter, compared to the consensus estimate of $48.20 million.
Shares of NASDAQ:MOFG traded down $0.47 during trading on Friday, reaching $33.19. 219 shares of the company’s stock traded hands, compared to its average volume of 46,726. The stock has a market capitalization of $549.46 million, a P/E ratio of 13.14 and a beta of 0.97. MidWestOne Financial Group has a 12 month low of $23.80 and a 12 month high of $37.04. The company has a 50 day moving average of $33.11 and a 200-day moving average of $29.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.93.
The business also recently announced a dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.2025 dividend. The ex-dividend date of this dividend is Friday, November 29th. MidWestOne Financial Group’s dividend payout ratio is presently 31.89%.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $31.77, for a total value of $31,770.00. Following the sale, the director now directly owns 2,731 shares in the company, valued at $86,763.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. EJF Capital LLC increased its position in MidWestOne Financial Group by 2.8% in the 2nd quarter. EJF Capital LLC now owns 15,792 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 432 shares during the period. Tower Research Capital LLC TRC boosted its position in MidWestOne Financial Group by 721.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 895 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 786 shares during the period. Bank of Montreal Can grew its stake in shares of MidWestOne Financial Group by 122.0% in the second quarter. Bank of Montreal Can now owns 1,776 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 976 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of MidWestOne Financial Group by 497.0% in the second quarter. Meeder Asset Management Inc. now owns 1,194 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 994 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of MidWestOne Financial Group by 3.5% during the second quarter. First Trust Advisors LP now owns 31,371 shares of the financial services provider’s stock valued at $877,000 after purchasing an additional 1,059 shares during the period. Institutional investors own 55.09% 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.
Featured Article: How much money do you need to begin day trading?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MidWestOne Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MidWestOne Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.