$0.70 Earnings Per Share Expected for MidWestOne Financial Group, Inc. (MOFG) This Quarter
Brokerages forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will announce earnings of $0.70 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MidWestOne Financial Group’s earnings. The highest EPS estimate is $0.71 and the lowest is $0.69. MidWestOne Financial Group reported earnings per share of $0.13 during the same quarter last year, which would suggest a positive year-over-year growth rate of 438.5%. The company is expected to issue its next quarterly earnings report on Thursday, January 24th.
According to Zacks, analysts expect that MidWestOne Financial Group will report full-year earnings of $2.70 per share for the current year, with EPS estimates ranging from $2.67 to $2.72. For the next year, analysts anticipate that the business will report earnings of $3.18 per share, with EPS estimates ranging from $3.15 to $3.20. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover MidWestOne Financial Group.
A number of brokerages have commented on MOFG. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. BidaskClub upgraded MidWestOne Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, ValuEngine downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd.
A number of large investors have recently made changes to their positions in MOFG. Ramsey Quantitative Systems boosted its stake in MidWestOne Financial Group by 75.8% during the 3rd quarter. Ramsey Quantitative Systems now owns 3,622 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,562 shares during the period. Acadian Asset Management LLC bought a new stake in MidWestOne Financial Group during the 2nd quarter valued at approximately $281,000. Schwab Charles Investment Management Inc. boosted its stake in MidWestOne Financial Group by 11.3% during 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 purchasing an additional 2,500 shares during the period. California Public Employees Retirement System boosted its stake in MidWestOne Financial Group by 26.0% during the 1st quarter. California Public Employees Retirement System now owns 34,134 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 7,034 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in MidWestOne Financial Group by 15.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,635 shares of the financial services provider’s stock valued at $1,286,000 after purchasing an additional 5,057 shares during the period. Hedge funds and other institutional investors own 45.34% of the company’s stock.
NASDAQ MOFG traded up $0.65 on Friday, reaching $31.00. The stock had a trading volume of 21,387 shares, compared to its average volume of 23,197. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.89 and a quick ratio of 0.87. MidWestOne Financial Group has a 1 year low of $28.22 and a 1 year high of $37.67. The company has a market capitalization of $371.54 million, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.41 and a beta of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Saturday, December 1st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.78 annualized dividend and a dividend yield of 2.52%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 43.09%.
MidWestOne Financial Group Company Profile
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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