Equities research analysts forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will announce $48.46 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for MidWestOne Financial Group’s earnings. The lowest sales estimate is $47.70 million and the highest is $48.98 million. MidWestOne Financial Group reported sales of $32.35 million in the same quarter last year, which would suggest a positive year over year growth rate of 49.8%. The business is expected to report its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that MidWestOne Financial Group will report full-year sales of $172.70 million for the current financial year, with estimates ranging from $171.00 million to $175.70 million. For the next financial year, analysts forecast that the company will report sales of $194.55 million, with estimates ranging from $192.30 million to $198.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for MidWestOne Financial Group.
A number of brokerages recently weighed in on MOFG. ValuEngine upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. BidaskClub raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, July 31st.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in MidWestOne Financial Group by 3.0% in the 4th 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 during the last quarter. Bank of New York Mellon Corp grew its position in shares of MidWestOne Financial Group by 27.6% during the 4th 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 acquiring an additional 18,265 shares during the period. Northern Trust Corp grew its position in shares of MidWestOne Financial Group by 0.9% during the 4th quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock valued at $3,260,000 after acquiring an additional 1,141 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MidWestOne Financial Group by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock valued at $9,540,000 after acquiring an additional 27,446 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of MidWestOne Financial Group by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 106,610 shares of the financial services provider’s stock valued at $2,647,000 after acquiring an additional 6,046 shares during the period. 34.01% of the stock is currently owned by institutional investors.
Shares of NASDAQ:MOFG traded down $0.12 during midday trading on Wednesday, reaching $29.59. 24,563 shares of the company were exchanged, compared to its average volume of 24,948. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $28.45. MidWestOne Financial Group has a one year low of $23.80 and a one year high of $35.20. The firm has a market capitalization of $481.90 million, a PE ratio of 11.65 and a beta of 0.97.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.203 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.81 annualized dividend and a dividend yield of 2.74%. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. MidWestOne Financial Group’s dividend payout ratio is currently 31.89%.
About MidWestOne Financial Group
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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