Equities research analysts predict that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will post earnings per share of $0.73 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MidWestOne Financial Group’s earnings, with estimates ranging from $0.70 to $0.76. MidWestOne Financial Group posted earnings of $0.71 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Friday, July 26th.
On average, analysts expect that MidWestOne Financial Group will report full year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.05. For the next year, analysts anticipate that the business will post earnings of $3.11 per share, with EPS estimates ranging from $3.08 to $3.16. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.05). MidWestOne Financial Group had a return on equity of 8.80% and a net margin of 19.41%. The company had revenue of $31.39 million for the quarter, compared to analyst estimates of $32.02 million.
A number of research analysts have commented on the stock. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th.
In related news, Director Richard J. Hartig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $29.04 per share, with a total value of $29,040.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 1,600 shares of company stock worth $45,815. 3.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake 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 valued at $665,000 after acquiring an additional 3,300 shares during the last quarter. Context BH Capital Management LP lifted its stake in MidWestOne Financial Group by 20.4% in the first quarter. Context BH Capital Management LP now owns 17,314 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 2,939 shares during the last quarter. AJO LP raised its position in shares of MidWestOne Financial Group by 2.2% in the first quarter. AJO LP now owns 87,809 shares of the financial services provider’s stock valued at $2,393,000 after purchasing an additional 1,850 shares during the period. Schneider Capital Management Corp raised its position in shares of MidWestOne Financial Group by 11.9% in the first quarter. Schneider Capital Management Corp now owns 12,201 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,300 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of MidWestOne Financial Group by 38.2% in the first quarter. Acadian Asset Management LLC now owns 15,562 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 4,302 shares during the period. 33.91% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:MOFG traded up $0.21 during midday trading on Friday, hitting $27.58. 11,349 shares of the company were exchanged, compared to its average volume of 36,641. The stock has a fifty day moving average of $27.74. MidWestOne Financial Group has a fifty-two week low of $23.80 and a fifty-two week high of $35.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $448.51 million, a P/E ratio of 10.86, a PEG ratio of 1.16 and a beta of 0.96.
The company 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 dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 29th. MidWestOne Financial Group’s payout ratio is 31.89%.
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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