Analysts expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to announce earnings of $0.70 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for MidWestOne Financial Group’s earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.69. MidWestOne Financial Group posted earnings per share of $0.13 in the same quarter last year, which indicates a positive year over year growth rate of 438.5%. The company is expected to announce its next earnings results on Thursday, January 24th.
On average, analysts expect that MidWestOne Financial Group will report full year earnings of $2.70 per share for the current year, with EPS estimates ranging from $2.67 to $2.72. For the next financial year, analysts forecast that the business will post earnings of $3.18 per share, with EPS estimates ranging from $3.15 to $3.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover MidWestOne Financial Group.
A number of equities analysts have recently weighed in on MOFG shares. BidaskClub cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, ValuEngine cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th.
Shares of NASDAQ MOFG traded up $0.65 during midday trading on Friday, reaching $31.00. 21,387 shares of the stock were exchanged, compared to its average volume of 23,197. The stock has a market cap of $371.54 million, a price-to-earnings ratio of 17.13, a P/E/G ratio of 1.41 and a beta of 1.00. MidWestOne Financial Group has a 12 month low of $28.22 and a 12 month high of $37.67. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Saturday, December 1st will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.78 annualized dividend and a yield of 2.52%. MidWestOne Financial Group’s dividend payout ratio is currently 43.09%.
In other MidWestOne Financial Group news, insider Charles N. Funk purchased 1,000 shares of the stock in a transaction on Thursday, August 30th. The shares were purchased at an average cost of $33.50 per share, for a total transaction of $33,500.00. Following the purchase, the insider now owns 104,829 shares of the company’s stock, valued at $3,511,771.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 2,700 shares of company stock worth $85,815 over the last quarter. Company insiders own 7.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP increased its stake in MidWestOne Financial Group by 1.4% in the 2nd quarter. Royce & Associates LP now owns 733,424 shares of the financial services provider’s stock valued at $24,775,000 after buying an additional 10,102 shares during the last quarter. BlackRock Inc. increased its stake in shares of MidWestOne Financial Group by 1.4% during the 3rd quarter. BlackRock Inc. now owns 573,874 shares of the financial services provider’s stock worth $19,116,000 after purchasing an additional 8,074 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MidWestOne Financial Group by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 334,154 shares of the financial services provider’s stock worth $11,288,000 after purchasing an additional 25,575 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of MidWestOne Financial Group by 4.2% during the 2nd quarter. Renaissance Technologies LLC now owns 208,000 shares of the financial services provider’s stock worth $7,026,000 after purchasing an additional 8,300 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of MidWestOne Financial Group by 17.4% during the 2nd quarter. LSV Asset Management now owns 142,898 shares of the financial services provider’s stock worth $4,827,000 after purchasing an additional 21,149 shares during the last quarter. Hedge funds and other institutional investors own 45.34% of the company’s stock.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as 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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