Wall Street analysts expect that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will announce $48.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MidWestOne Financial Group’s earnings. The highest sales estimate is $48.10 million and the lowest is $47.90 million. MidWestOne Financial Group reported sales of $32.37 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 48.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, January 23rd.
On average, analysts expect that MidWestOne Financial Group will report full-year sales of $175.00 million for the current fiscal year, with estimates ranging from $174.40 million to $175.60 million. For the next financial year, analysts forecast that the business will post sales of $192.35 million, with estimates ranging from $191.80 million to $192.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow MidWestOne Financial Group.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.07). MidWestOne Financial Group had a net margin of 19.56% and a return on equity of 10.57%. The firm had revenue of $51.26 million during the quarter, compared to the consensus estimate of $48.20 million.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $31.77, for a total transaction of $31,770.00. Following the sale, the director now directly owns 2,731 shares in the company, valued at approximately $86,763.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in MidWestOne Financial Group by 721.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 895 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in MidWestOne Financial Group by 497.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,194 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 994 shares during the last quarter. Bank of Montreal Can boosted its stake in MidWestOne Financial Group by 122.0% during the 2nd quarter. Bank of Montreal Can now owns 1,776 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 976 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MidWestOne Financial Group by 100.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,456 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in MidWestOne Financial Group during the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 54.68% of the company’s stock.
MidWestOne Financial Group stock traded down $0.09 during midday trading on Thursday, hitting $35.01. 79,000 shares of the company’s stock were exchanged, compared to its average volume of 26,953. MidWestOne Financial Group has a 52-week low of $23.80 and a 52-week high of $35.50. The company has a market cap of $570.04 million, a P/E ratio of 13.78 and a beta of 0.97. The stock has a 50-day moving average price of $31.20 and a two-hundred day moving average price of $29.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including 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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