Brokerages expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Rating) to report sales of $47.15 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for MidWestOne Financial Group, with estimates ranging from $46.40 million to $47.90 million. MidWestOne Financial Group reported sales of $50.44 million in the same quarter last year, indicating a negative growth rate of 6.5% year-over-year. The company is expected to announce its next quarterly results on Thursday, April 28.
According to Zacks, analysts expect MidWestOne Financial Group to report annual revenue of $203.60 million for the current fiscal year, with estimates ranging from $201.20 million to $206.00. millions of dollars. For the next fiscal year, analysts expect the company to record sales of $214.70 million, with estimates ranging from $212.80 million to $216.60 million. Zacks Investment Research sales calculations are an average based on a survey of research companies that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last released its quarterly results on Friday, January 28. The financial services provider reported earnings per share of $0.91 for the quarter, missing the consensus estimate of $0.96 per ($0.05). MidWestOne Financial Group achieved a net margin of 31.70% and a return on equity of 13.26%.
Separately, Zacks Investment Research upgraded MidWestOne Financial Group from a “hold” rating to a “buy” rating and set a price target of $36.00 on the stock in a Wednesday, Jan. 5 research note. .
Several hedge funds have recently changed their holdings of MOFGs. Dimensional Fund Advisors LP increased its position in shares of MidWestOne Financial Group by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 568,125 shares of the financial services provider worth $16,345,000 after buying an additional 23,141 shares in the last quarter. Vanguard Group Inc. increased its position in shares of MidWestOne Financial Group by 4.5% in the second quarter. Vanguard Group Inc. now owns 753,445 shares of the financial services provider worth $21,676,000 after buying an additional 32,676 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MidWestOne Financial Group by 7.1% in the 2nd quarter. Geode Capital Management LLC now owns 242,538 shares of the financial services provider worth $6,977,000 after purchasing an additional 16,160 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of MidWestOne Financial Group in Q2 for a value of approximately $220,000. Finally, State Street Corp increased its position in shares of MidWestOne Financial Group by 2.2% in the 2nd quarter. State Street Corp now owns 280,648 shares of the financial services provider worth $8,074,000 after buying an additional 5,923 shares in the last quarter. Hedge funds and other institutional investors hold 64.99% of the company’s shares.
Shares of MidWestOne Financial Group opened at $30.93 on Thursday. The company has a debt ratio of 0.29, a current ratio of 0.66 and a quick ratio of 0.65. The company’s 50-day simple moving average is $32.11 and its two-hundred-day simple moving average is $31.33. The stock has a market capitalization of $485.35 million, a P/E ratio of 7.08 and a beta of 0.95. MidWestOne Financial Group has a one-year low of $27.08 and a one-year high of $34.65.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 will receive a dividend of $0.237. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.23. This represents a dividend of $0.95 on an annualized basis and a yield of 3.06%. The ex-date of this dividend is Monday, February 28. MidWestOne Financial Group’s payout ratio is 20.60%.
About MidWestOne Financial Group (Get a rating)
MidWestOne Financial Group, Inc is a financial holding company focused on providing relationship-based commercial and personal banking products and services through its banking subsidiary, MidWestOne Bank. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans and consumer loans.
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