Analysts expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to announce earnings of $0.83 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for MidWestOne Financial Group’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.83. MidWestOne Financial Group posted earnings of $0.59 per share during the same quarter last year, which would suggest a positive year over year growth rate of 40.7%. The business is expected to issue its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that MidWestOne Financial Group will report full-year earnings of $3.07 per share for the current year, with EPS estimates ranging from $2.98 to $3.14. For the next fiscal year, analysts expect that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $3.20 to $3.25. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MidWestOne Financial Group.
Several equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a report on Wednesday, July 31st. Finally, ValuEngine upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, July 27th.
A number of hedge funds and other institutional investors have recently made changes to their positions in MOFG. Meeder Asset Management Inc. raised its holdings in MidWestOne Financial Group by 497.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,194 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 994 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in MidWestOne Financial Group by 502.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 1,948 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in MidWestOne Financial Group by 355.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,962 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,092 shares during the last quarter. Bank of America Corp DE raised its holdings in MidWestOne Financial Group by 63.3% in the 4th quarter. Bank of America Corp DE now owns 7,859 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 3,045 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in MidWestOne Financial Group in the 2nd quarter worth approximately $224,000. Institutional investors own 34.01% of the company’s stock.
Shares of MOFG stock traded down $0.82 during trading hours on Monday, hitting $28.95. 28,900 shares of the company’s stock traded hands, compared to its average volume of 24,901. The stock has a fifty day moving average price of $28.18. MidWestOne Financial Group has a 12-month low of $23.80 and a 12-month high of $35.20. The firm has a market cap of $482.90 million, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.88.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be issued a dividend of $0.203 per share. This represents a $0.81 annualized dividend and a dividend yield of 2.80%. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 29th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 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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