Equities research analysts forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will post $32.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MidWestOne Financial Group’s earnings. The highest sales estimate is $32.70 million and the lowest is $32.28 million. MidWestOne Financial Group posted sales of $32.41 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.4%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that MidWestOne Financial Group will report full-year sales of $129.40 million for the current year, with estimates ranging from $128.90 million to $129.80 million. For the next year, analysts expect that the company will post sales of $192.66 million per share, with estimates ranging from $186.80 million to $198.53 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $32.07 million during the quarter, compared to the consensus estimate of $32.61 million. MidWestOne Financial Group had a return on equity of 7.09% and a net margin of 14.13%.
MOFG opened at $34.00 on Tuesday. The stock has a market cap of $416.01 million, a PE ratio of 18.86, a P/E/G ratio of 1.59 and a beta of 0.91. MidWestOne Financial Group has a 52-week low of $30.56 and a 52-week high of $37.94. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Saturday, September 1st were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.78 annualized dividend and a yield of 2.29%. MidWestOne Financial Group’s payout ratio is 43.09%.
In other MidWestOne Financial Group news, insider Charles N. Funk bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average price of $33.50 per share, for a total transaction of $33,500.00. Following the purchase, the insider now directly owns 104,829 shares in the company, valued at $3,511,771.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have purchased 1,650 shares of company stock valued at $55,344. 7.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in MidWestOne Financial Group by 1.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 131,452 shares of the financial services provider’s stock valued at $4,376,000 after purchasing an additional 1,895 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in MidWestOne Financial Group by 11.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,561 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 2,500 shares in the last quarter. Martingale Asset Management L P raised its holdings in MidWestOne Financial Group by 5.4% in the 2nd quarter. Martingale Asset Management L P now owns 80,527 shares of the financial services provider’s stock valued at $2,721,000 after acquiring an additional 4,104 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in MidWestOne Financial Group by 8.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 65,707 shares of the financial services provider’s stock valued at $2,220,000 after acquiring an additional 5,057 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in MidWestOne Financial Group by 15.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,635 shares of the financial services provider’s stock valued at $1,286,000 after acquiring an additional 5,057 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding company. The company 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.
See Also: Return on Investment (ROI)
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