$32.03 Million in Sales Expected for MidWestOne Financial Group, Inc. (MOFG) This Quarter

Brokerages expect that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will announce sales of $32.03 million for the current quarter, according to Zacks. Two analysts have made estimates for MidWestOne Financial Group’s earnings. The lowest sales estimate is $31.95 million and the highest is $32.10 million. MidWestOne Financial Group reported sales of $30.25 million in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings report on Thursday, March 1st.

According to Zacks, analysts expect that MidWestOne Financial Group will report full-year sales of $32.03 million for the current financial year, with estimates ranging from $126.50 million to $126.53 million. For the next year, analysts forecast that the business will report sales of $128.97 million per share, with estimates ranging from $128.70 million to $129.24 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover MidWestOne Financial Group.

Several analysts recently weighed in on the company. Sandler O’Neill reissued a “buy” rating and set a $39.00 price target on shares of MidWestOne Financial Group in a report on Friday, January 19th. BidaskClub cut MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. MidWestOne Financial Group has an average rating of “Hold” and a consensus price target of $38.50.

MidWestOne Financial Group (MOFG) traded up $0.19 during trading hours on Wednesday, reaching $31.06. The company had a trading volume of 50,400 shares, compared to its average volume of 31,958. The firm has a market cap of $379.54, a PE ratio of 15.15, a P/E/G ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.88. MidWestOne Financial Group has a 1-year low of $30.56 and a 1-year high of $38.29.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.195 dividend. The ex-dividend date is Wednesday, February 28th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 2.51%. MidWestOne Financial Group’s payout ratio is currently 33.50%.

In related news, COO Kevin E. Kramer acquired 1,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the acquisition, the chief operating officer now directly owns 4,833 shares of the company’s stock, valued at $161,132.22. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen L. West acquired 3,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $33.02 per share, with a total value of $99,060.00. The disclosure for this purchase can be found here. Insiders acquired a total of 5,200 shares of company stock valued at $172,908 over the last ninety days. Insiders own 25.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Archford Capital Strategies LLC raised its holdings in MidWestOne Financial Group by 133.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 1,145 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in MidWestOne Financial Group by 7.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 25,255 shares of the financial services provider’s stock valued at $845,000 after acquiring an additional 1,700 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in MidWestOne Financial Group by 46.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 5,671 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 1,794 shares in the last quarter. Monarch Partners Asset Management LLC raised its holdings in MidWestOne Financial Group by 15.5% in the 4th quarter. Monarch Partners Asset Management LLC now owns 15,750 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 2,110 shares in the last quarter. Finally, LSV Asset Management raised its holdings in MidWestOne Financial Group by 2.0% in the 4th quarter. LSV Asset Management now owns 121,749 shares of the financial services provider’s stock valued at $4,082,000 after acquiring an additional 2,429 shares in the last quarter. 43.19% of the stock is owned by hedge funds and other institutional investors.

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About MidWestOne Financial Group

MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.

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Earnings History and Estimates for MidWestOne Financial Group (NASDAQ:MOFG)

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