Wall Street analysts expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to report $32.54 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for MidWestOne Financial Group’s earnings. The lowest sales estimate is $32.28 million and the highest is $32.73 million. MidWestOne Financial Group reported sales of $32.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that MidWestOne Financial Group will report full year sales of $129.40 million for the current financial year, with estimates ranging from $128.90 million to $129.80 million. For the next year, analysts anticipate that the business will post sales of $133.27 million per share, with estimates ranging from $132.50 million to $134.70 million. Zacks’ sales calculations are an average based on a survey of analysts that follow MidWestOne Financial Group.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.67 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. MidWestOne Financial Group had a net margin of 14.13% and a return on equity of 7.09%. The firm had revenue of $32.07 million during the quarter, compared to the consensus estimate of $32.61 million.

Several research firms have issued reports on MOFG. ValuEngine cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, BidaskClub raised shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 20th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter worth approximately $187,000. Citadel Advisors LLC acquired a new stake in shares of MidWestOne Financial Group in the first quarter worth approximately $221,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of MidWestOne Financial Group in the first quarter worth approximately $266,000. GSA Capital Partners LLP acquired a new stake in shares of MidWestOne Financial Group in the first quarter worth approximately $273,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of MidWestOne Financial Group in the second quarter worth approximately $281,000. 46.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of MidWestOne Financial Group stock traded up $0.09 during mid-day trading on Wednesday, hitting $33.70. 86,603 shares of the stock were exchanged, compared to its average volume of 11,567. MidWestOne Financial Group has a twelve month low of $30.56 and a twelve month high of $37.94. The stock has a market capitalization of $412.58 million, a P/E ratio of 18.62, a P/E/G ratio of 1.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.87 and a quick ratio of 0.87.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Saturday, September 1st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.78 annualized dividend and a dividend yield of 2.31%. MidWestOne Financial Group’s dividend payout ratio is currently 43.09%.

About MidWestOne Financial Group

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, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as 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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Earnings History and Estimates for MidWestOne Financial Group (NASDAQ:MOFG)

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