Wall Street brokerages expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to announce sales of $32.03 million for the current quarter, according to Zacks. Two analysts have made estimates for MidWestOne Financial Group’s earnings. The highest sales estimate is $32.10 million and the lowest is $31.95 million. MidWestOne Financial Group posted sales of $30.25 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next earnings report on Thursday, March 1st.
According to Zacks, analysts expect that MidWestOne Financial Group will report full year sales of $32.03 million for the current financial year, with estimates ranging from $126.50 million to $126.53 million. For the next year, analysts expect that the business will report sales of $128.97 million per share, with estimates ranging from $128.70 million to $129.24 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover MidWestOne Financial Group.
Several analysts recently issued reports on MOFG shares. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BidaskClub raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, Sandler O’Neill reissued a “buy” rating and issued a $39.00 price target on shares of MidWestOne Financial Group in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $38.50.
MidWestOne Financial Group (NASDAQ:MOFG) traded down $0.03 during midday trading on Wednesday, reaching $31.16. 22,700 shares of the company traded hands, compared to its average volume of 27,227. MidWestOne Financial Group has a twelve month low of $30.56 and a twelve month high of $38.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market cap of $381.13, a P/E ratio of 15.35, a P/E/G ratio of 1.47 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 2.50%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 33.50%.
In related news, Director Stephen L. West acquired 3,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were acquired at an average cost of $33.02 per share, for a total transaction of $99,060.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kevin E. Kramer acquired 1,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the purchase, the chief operating officer now owns 4,833 shares in the company, valued at approximately $161,132.22. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,500 shares of company stock worth $183,246. Company insiders own 25.30% of the company’s stock.
Large investors have recently modified their holdings of the business. Archford Capital Strategies LLC lifted its stake in MidWestOne Financial Group by 133.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 1,145 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of MidWestOne Financial Group during the 3rd quarter worth $181,000. Alliancebernstein L.P. bought a new stake in shares of MidWestOne Financial Group during the 2nd quarter worth $217,000. Citadel Advisors LLC bought a new stake in shares of MidWestOne Financial Group during the 3rd quarter worth $268,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of MidWestOne Financial Group during the 4th quarter worth $286,000. Institutional investors and hedge funds own 46.22% of the company’s stock.
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MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.
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