Zacks: Brokerages Expect MidWestOne Financial Group, Inc. (MOFG) Will Post Quarterly Sales of $32.59 Million
Equities analysts expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to report sales of $32.59 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for MidWestOne Financial Group’s earnings, with estimates ranging from $32.10 million to $33.08 million. MidWestOne Financial Group reported sales of $31.95 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The firm is expected to report its next quarterly earnings results on Thursday, January 24th.
On average, analysts expect that MidWestOne Financial Group will report full-year sales of $128.35 million for the current fiscal year, with estimates ranging from $128.29 million to $128.40 million. For the next year, analysts anticipate that the business will post sales of $190.57 million, with estimates ranging from $182.40 million to $198.73 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). MidWestOne Financial Group had a return on equity of 7.33% and a net margin of 14.22%. The business had revenue of $32.35 million during the quarter, compared to analyst estimates of $32.53 million.
Shares of MOFG traded down $1.77 on Wednesday, reaching $27.21. The company’s stock had a trading volume of 17,314 shares, compared to its average volume of 16,368. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.89 and a quick ratio of 0.89. MidWestOne Financial Group has a twelve month low of $27.20 and a twelve month high of $36.75. The firm has a market capitalization of $351.26 million, a PE ratio of 15.03, a P/E/G ratio of 1.43 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Saturday, December 1st will be issued a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.87%. MidWestOne Financial Group’s dividend payout ratio is presently 43.09%.
A number of large investors have recently bought and sold shares of MOFG. Acadian Asset Management LLC purchased a new stake in MidWestOne Financial Group in the 2nd quarter valued at about $281,000. IndexIQ Advisors LLC increased its stake in MidWestOne Financial Group by 8.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 65,707 shares of the financial services provider’s stock valued at $2,220,000 after buying an additional 5,057 shares during the last quarter. LSV Asset Management increased its stake in MidWestOne Financial Group by 17.4% in the 2nd quarter. LSV Asset Management now owns 142,898 shares of the financial services provider’s stock valued at $4,827,000 after buying an additional 21,149 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in MidWestOne Financial Group by 11.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,561 shares of the financial services provider’s stock valued at $830,000 after buying an additional 2,500 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in MidWestOne Financial Group by 5.4% in the 2nd quarter. Martingale Asset Management L P now owns 80,527 shares of the financial services provider’s stock valued at $2,721,000 after buying an additional 4,104 shares during the last quarter. Hedge funds and other institutional investors own 45.95% of the company’s stock.
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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