Equities analysts expect that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will report sales of $45.87 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for MidWestOne Financial Group’s earnings, with the lowest sales estimate coming in at $43.30 million and the highest estimate coming in at $47.30 million. MidWestOne Financial Group reported sales of $32.07 million during the same quarter last year, which would suggest a positive year over year growth rate of 43%. The firm is scheduled to report its next earnings results on Friday, July 26th.
According to Zacks, analysts expect that MidWestOne Financial Group will report full year sales of $173.63 million for the current year, with estimates ranging from $170.30 million to $175.70 million. For the next fiscal year, analysts expect that the firm will report sales of $195.05 million, with estimates ranging from $192.10 million to $198.96 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $31.39 million during the quarter, compared to the consensus estimate of $32.02 million.
MOFG traded up $0.21 during trading on Tuesday, hitting $27.58. 11,349 shares of the company’s stock traded hands, compared to its average volume of 36,641. The business’s 50 day moving average is $27.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.88 and a quick ratio of 0.88. 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 $448.51 million, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 of this dividend is Thursday, August 29th. MidWestOne Financial Group’s payout ratio is presently 31.89%.
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 bought at an average cost of $29.04 per share, for a total transaction of $29,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 1,600 shares of company stock worth $45,815. 3.30% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in MidWestOne Financial Group by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock worth $9,540,000 after buying an additional 27,446 shares during the period. Bank of New York Mellon Corp boosted its stake in MidWestOne Financial Group by 27.6% in the fourth quarter. Bank of New York Mellon Corp now owns 84,555 shares of the financial services provider’s stock valued at $2,099,000 after buying an additional 18,265 shares in the last quarter. BlackRock Inc. boosted its stake in MidWestOne Financial Group by 3.0% in the fourth quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock valued at $14,676,000 after buying an additional 17,183 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in MidWestOne Financial Group by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock valued at $6,850,000 after buying an additional 14,489 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in MidWestOne Financial Group in the first quarter valued at about $341,000. Institutional investors own 33.91% of the company’s stock.
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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