Analysts expect MidWestOne Financial Group, Inc. (NASDAQ:MOFG) to report earnings of $0.64 per share for the current quarter, according to Zacks. Two analysts have issued estimates for MidWestOne Financial Group’s earnings. MidWestOne Financial Group posted earnings per share of $0.36 in the same quarter last year, which suggests a positive year over year growth rate of 77.8%. The business is scheduled to issue its next earnings results on Thursday, March 1st.
According to Zacks, analysts expect that MidWestOne Financial Group will report full year earnings of $2.33 per share for the current year. For the next year, analysts expect that the business will post earnings of $2.65 per share, with EPS estimates ranging from $2.49 to $2.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for MidWestOne Financial Group.
MOFG has been the subject of a number of research reports. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BidaskClub lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. Finally, Sandler O’Neill restated a “buy” rating and set a $39.00 price objective on shares of MidWestOne Financial Group in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.50.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 2.45%. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 28th. MidWestOne Financial Group’s payout ratio is currently 33.50%.
In other news, Director Stephen L. West purchased 3,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $33.02 per share, for a total transaction of $99,060.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kevin E. Kramer purchased 1,000 shares of MidWestOne Financial Group stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the acquisition, the chief operating officer now owns 4,833 shares in the company, valued at $161,132.22. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 5,500 shares of company stock valued at $183,246. 25.30% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Archford Capital Strategies LLC lifted its holdings in shares of MidWestOne Financial Group by 133.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,145 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $181,000. Alliancebernstein L.P. acquired a new stake in shares of MidWestOne Financial Group during the 2nd quarter valued at about $217,000. Citadel Advisors LLC acquired a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $268,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at about $286,000. Institutional investors and hedge funds own 46.35% of the company’s stock.
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MidWestOne Financial Group Company Profile
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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