Wall Street brokerages expect MidWestOne Financial Group, Inc. (NASDAQ: MOFG) to report revenue of $ 48.20 million for the current quarter, according to Zacks. Two analysts have released earnings estimates for MidWestOne Financial Group. The lowest sales estimate is $ 48.00 million and the highest is $ 48.40 million. MidWestOne Financial Group reported sales of $ 49.66 million in the same quarter last year, suggesting a negative growth rate of 2.9% year-over-year. The company is expected to announce its next quarterly results on Thursday, January 27.
On average, analysts expect MidWestOne Financial Group to report annual revenue of $ 198.75 million for the current fiscal year, with estimates ranging from $ 196.10 million to $ 201.40. millions of dollars. For next year, analysts predict the company will post sales of $ 198.75 million, with estimates ranging from $ 197.10 million to $ 200.40 million. Zacks sales averages are an average based on a survey of seller-side research companies that cover MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ: MOFG) last reported its quarterly results on Sunday, October 31. The financial services provider reported earnings per share (EPS) of $ 1.03 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.92 of $ 0.11. The company posted revenue of $ 49.52 million in the quarter, compared to a consensus estimate of $ 48.45 million. MidWestOne Financial Group had a net margin of 32.62% and a return on equity of 13.79%.
Separately, Zacks investment research downgraded MidWestOne Financial Group shares from a âbuyâ rating to a âholdâ rating in a research report on Saturday, November 6.
Actions of NASDAQ: MOFG opened for $ 32.44 on Friday. The company has a market cap of $ 509.05 million, a PE ratio of 7.21 and a beta of 0.98. The company’s 50-day simple moving average is $ 32.25 and its 200-day simple moving average is $ 30.46. MidWestOne Financial Group has a one-year low of $ 23.88 and a one-year high of $ 34.65. The company has a debt to equity ratio of 0.29, a quick ratio of 0.65, and a current ratio of 0.66.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday December 1 received a dividend of $ 0.225 per share. This represents a dividend of $ 0.90 on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Tuesday, November 30. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 20.00%.
Several large investors have recently changed their holdings in the company. First Trust Advisors LP increased its stake in MidWestOne Financial Group by 31.5% during the second quarter. First Trust Advisors LP now owns 49,782 shares of the financial services provider valued at $ 1,432,000 after purchasing an additional 11,923 shares during the period. Basswood Capital Management LLC acquired a new position in MidWestOne Financial Group during the second quarter for a value of approximately $ 4,113,000. Morgan Stanley increased its stake in MidWestOne Financial Group by 5.2% in the first quarter. Morgan Stanley now owns 35,455 shares of the financial services provider valued at $ 1,098,000 after purchasing an additional 1,765 shares during the period. State Street Corp increased its stake in MidWestOne Financial Group by 2.2% in the second quarter. State Street Corp now owns 280,648 shares of the financial services provider valued at $ 8,074,000 after purchasing an additional 5,923 shares during the period. Finally, Investment Advisory Services Inc. TX ADV acquired a new position in MidWestOne Financial Group during the second quarter valued at approximately $ 259,000. 63.10% of the shares are currently held by institutional investors and hedge funds.
About MidWestOne Financial Group
MidWestOne Financial Group, Inc. is a financial holding company, which focuses on providing relationship-based business and personal banking products and services through its banking subsidiary, MidWestOne Bank. The Bank offers business loans, home loans, farm loans, credit card loans, and consumer loans.
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