Equities analysts predict that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will report $0.83 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for MidWestOne Financial Group’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.84. MidWestOne Financial Group reported earnings per share of $0.59 during the same quarter last year, which suggests a positive year-over-year growth rate of 40.7%. The business is scheduled to announce its next earnings results on Thursday, October 24th.
On average, analysts expect that MidWestOne Financial Group will report full-year earnings of $3.06 per share for the current fiscal year, with EPS estimates ranging from $2.96 to $3.14. For the next year, analysts forecast that the firm will report earnings of $3.20 per share, with EPS estimates ranging from $3.20 to $3.21. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.15. MidWestOne Financial Group had a return on equity of 9.13% and a net margin of 19.03%. The firm had revenue of $43.63 million for the quarter, compared to analyst estimates of $45.87 million.
Shares of MOFG stock traded up $0.59 during mid-day trading on Friday, reaching $31.15. The stock had a trading volume of 48,338 shares, compared to its average volume of 25,954. The firm’s 50 day simple moving average is $29.77 and its 200 day simple moving average is $28.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. MidWestOne Financial Group has a one year low of $23.80 and a one year high of $34.83. The firm has a market cap of $503.71 million, a PE ratio of 12.26 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a $0.203 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 31.89%.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $30.09, for a total value of $45,135.00. Following the completion of the sale, the director now owns 2,731 shares in the company, valued at approximately $82,175.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its position in shares of MidWestOne Financial Group by 497.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,194 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares during the period. Bank of Montreal Can lifted its position in shares of MidWestOne Financial Group by 122.0% during the 2nd quarter. Bank of Montreal Can now owns 1,776 shares of the financial services provider’s stock worth $49,000 after buying an additional 976 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of MidWestOne Financial Group by 502.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the financial services provider’s stock worth $64,000 after buying an additional 1,948 shares during the period. JPMorgan Chase & Co. lifted its position in shares of MidWestOne Financial Group by 100.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,456 shares of the financial services provider’s stock worth $151,000 after buying an additional 2,734 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of MidWestOne Financial Group by 63.3% during the 4th quarter. Bank of America Corp DE now owns 7,859 shares of the financial services provider’s stock worth $195,000 after buying an additional 3,045 shares during the period. Institutional investors and hedge funds own 54.74% 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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