Analysts Expect MidWestOne Financial Group, Inc. (MOFG) to Post $0.62 Earnings Per Share

Brokerages expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to post earnings of $0.62 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MidWestOne Financial Group’s earnings. The lowest EPS estimate is $0.59 and the highest is $0.64. MidWestOne Financial Group reported earnings per share of $0.36 during the same quarter last year, which suggests a positive year-over-year growth rate of 72.2%. The firm is expected to report its next earnings report on Thursday, March 1st.

On average, analysts expect that MidWestOne Financial Group will report full-year earnings of $2.33 per share for the current year, with EPS estimates ranging from $2.28 to $2.39. For the next year, analysts expect that the business will report earnings of $2.58 per share, with EPS estimates ranging from $2.50 to $2.70. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow MidWestOne Financial Group.

Several brokerages recently commented on MOFG. Piper Jaffray Companies set a $37.00 target price on MidWestOne Financial Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, BidaskClub raised MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd.

In other MidWestOne Financial Group news, Director Kurt R. Weise sold 889 shares of MidWestOne Financial Group stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.91, for a total value of $29,256.99. Following the transaction, the director now owns 2,275 shares in the company, valued at $74,870.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kurt R. Weise sold 1,000 shares of MidWestOne Financial Group stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total transaction of $35,210.00. Following the completion of the transaction, the director now owns 2,275 shares in the company, valued at approximately $80,102.75. The disclosure for this sale can be found here. 25.30% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. grew its position in MidWestOne Financial Group by 21.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 23,555 shares of the financial services provider’s stock worth $794,000 after buying an additional 4,100 shares during the last quarter. Maltese Capital Management LLC grew its position in MidWestOne Financial Group by 10.0% in the third quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after buying an additional 21,500 shares during the last quarter. OxFORD Asset Management LLP grew its position in MidWestOne Financial Group by 16.5% in the third quarter. OxFORD Asset Management LLP now owns 21,328 shares of the financial services provider’s stock worth $726,000 after buying an additional 3,026 shares during the last quarter. Dimensional Fund Advisors LP grew its position in MidWestOne Financial Group by 17.9% in the third quarter. Dimensional Fund Advisors LP now owns 234,892 shares of the financial services provider’s stock worth $7,930,000 after buying an additional 35,607 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in MidWestOne Financial Group by 18.7% in the third quarter. Wells Fargo & Company MN now owns 35,355 shares of the financial services provider’s stock worth $1,193,000 after buying an additional 5,575 shares during the last quarter. Hedge funds and other institutional investors own 46.85% of the company’s stock.

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Shares of MidWestOne Financial Group (MOFG) opened at $34.63 on Friday. The firm has a market capitalization of $423.14, a P/E ratio of 16.78, a PEG ratio of 2.46 and a beta of 1.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. MidWestOne Financial Group has a twelve month low of $30.56 and a twelve month high of $39.20.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 annualized dividend and a yield of 1.96%. MidWestOne Financial Group’s payout ratio is 33.50%.

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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