$48.00 Million in Sales Expected for MidWestOne Financial Group, Inc. (NASDAQ:MOFG) This Quarter

Equities research analysts predict 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 issued estimates for MidWestOne Financial Group’s earnings. The lowest sales estimate is $47.90 million and the highest is $48.10 million. MidWestOne Financial Group reported sales of $32.37 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 48.3%. The company is expected to announce its next quarterly earnings report on Thursday, January 23rd.

According to Zacks, analysts expect that MidWestOne Financial Group will report full year sales of $175.00 million for the current financial 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 averages are an average based on a survey of research firms that cover MidWestOne Financial Group.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.07). The company had revenue of $51.26 million for the quarter, compared to analysts’ expectations of $48.20 million. MidWestOne Financial Group had a return on equity of 10.57% and a net margin of 19.56%.

MOFG has been the topic of a number of recent analyst reports. BidaskClub raised shares of MidWestOne Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. ValuEngine raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th.

In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $31.77, for a total transaction of $31,770.00. Following the transaction, the director now directly owns 2,731 shares of the company’s stock, valued at approximately $86,763.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.30% of the company’s stock.

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Institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its position in MidWestOne Financial Group by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 31,371 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 1,059 shares during the last quarter. Bessemer Group Inc. grew its position in MidWestOne Financial Group by 16.1% during the 2nd quarter. Bessemer Group Inc. now owns 23,800 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 3,300 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in MidWestOne Financial Group during the 2nd quarter worth $224,000. JPMorgan Chase & Co. grew its position 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 worth $151,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in MidWestOne Financial Group by 12.7% during the 2nd quarter. Acadian Asset Management LLC now owns 17,545 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 1,983 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors.

Shares of NASDAQ:MOFG traded down $0.09 during mid-day trading on Thursday, reaching $35.01. 79,000 shares of the company were exchanged, compared to its average volume of 26,953. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $31.20 and its 200 day simple moving average is $29.31. The firm has a market cap of $570.04 million, a price-to-earnings ratio of 13.78 and a beta of 0.97. MidWestOne Financial Group has a 1 year low of $23.80 and a 1 year high of $35.50.

About MidWestOne Financial Group

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

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