Wall Street analysts forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Rating) will report earnings per share of $0.90 for the current quarter, according to Zacks. Two analysts have made estimates for MidWestOne Financial Group’s earnings. The highest EPS estimate is $1.03 and the lowest is $0.82. MidWestOne Financial Group reported earnings per share of $1.08 in the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The company is expected to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that MidWestOne Financial Group will report full-year earnings of $3.68 per share for the current year, with EPS estimates ranging from $3.58 to $3.80. For the next fiscal year, analysts expect that the firm will post earnings of $3.85 per share, with EPS estimates ranging from $3.80 to $3.90. Zacks’ EPS averages are an average based on a survey of analysts that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. MidWestOne Financial Group had a return on equity of 11.80% and a net margin of 28.49%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC bought a new position in shares of MidWestOne Financial Group in the 3rd quarter worth approximately $308,000. Barclays PLC raised its holdings in MidWestOne Financial Group by 3.9% during the third quarter. Barclays PLC now owns 31,952 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 1,212 shares during the period. IndexIQ Advisors LLC raised its holdings in MidWestOne Financial Group by 11.1% during the third quarter. IndexIQ Advisors LLC now owns 14,517 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 1,454 shares during the period. BOKF NA bought a new stake in MidWestOne Financial Group during the third quarter valued at about $252,000. Finally, American Century Companies Inc. raised its holdings in MidWestOne Financial Group by 15.0% during the third quarter. American Century Companies Inc. now owns 35,553 shares of the financial services provider’s stock valued at $1,072,000 after acquiring an additional 4,648 shares during the period. 65.04% of the stock is owned by institutional investors and hedge funds.
MidWestOne Financial Group stock opened at $28.71 on Monday. MidWestOne Financial Group has a 52 week low of $27.08 and a 52 week high of $34.65. The business has a 50-day simple moving average of $31.39 and a 200 day simple moving average of $31.89. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock has a market cap of $450.17 million, a price-to-earnings ratio of 7.36 and a beta of 0.97.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a $0.2375 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.24. MidWestOne Financial Group’s payout ratio is 24.36%.
About MidWestOne Financial Group (Get Rating)
MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, governmental units, and institutional customers. It offers deposit products, such as noninterest bearing and interest-bearing demand deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit, and time deposits.
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