MidWestOne Financial Group, Inc. (NASDAQ:MOFG) – Research analysts at DA Davidson decreased their Q2 2019 earnings estimates for shares of MidWestOne Financial Group in a research note issued on Monday, April 29th, Zacks Investment Research reports. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.83. DA Davidson also issued estimates for MidWestOne Financial Group’s Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $2.90 EPS and FY2020 earnings at $3.10 EPS.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). MidWestOne Financial Group had a return on equity of 8.80% and a net margin of 19.41%. The firm had revenue of $31.39 million for the quarter, compared to analyst estimates of $32.02 million.
NASDAQ MOFG traded down $0.23 on Wednesday, hitting $28.04. 20,600 shares of the stock were exchanged, compared to its average volume of 20,596. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.45. MidWestOne Financial Group has a fifty-two week low of $23.80 and a fifty-two week high of $35.20. The stock has a market capitalization of $346.75 million, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.2025 per share. The ex-dividend date is Friday, April 26th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.89%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 31.89%.
In related news, Director Richard J. Hartig purchased 1,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $29.04 per share, with a total value of $29,040.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.
Several large investors have recently bought and sold shares of MOFG. BNP Paribas Arbitrage SA boosted its stake in shares of MidWestOne Financial Group by 502.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,948 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of MidWestOne Financial Group by 21.2% during the 1st quarter. Citigroup Inc. now owns 3,518 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 615 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in shares of MidWestOne Financial Group by 355.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,962 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,092 shares during the period. Ramsey Quantitative Systems lifted its holdings in shares of MidWestOne Financial Group by 38.7% during the 4th quarter. Ramsey Quantitative Systems now owns 5,022 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,400 shares during the period. Finally, SEI Investments Co purchased a new position in shares of MidWestOne Financial Group during the 1st quarter worth about $126,000. 45.38% of the stock is currently owned by institutional investors and hedge funds.
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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