Brokerages Expect MidWestOne Financial Group, Inc. (MOFG) Will Announce Earnings of $0.66 Per Share

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Brokerages forecast that MidWestOne Financial Group, Inc. (NASDAQ:MOFG) will post earnings per share (EPS) of $0.66 for the current quarter, Zacks reports. Two analysts have made estimates for MidWestOne Financial Group’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.68. MidWestOne Financial Group reported earnings per share of $0.64 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The company is scheduled to announce its next earnings report on Thursday, April 25th.

On average, analysts expect that MidWestOne Financial Group will report full year earnings of $3.12 per share for the current financial year, with EPS estimates ranging from $3.03 to $3.20. For the next fiscal year, analysts forecast that the company will post earnings of $3.25 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MidWestOne Financial Group.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.03). The company had revenue of $32.37 million for the quarter, compared to analyst estimates of $32.59 million. MidWestOne Financial Group had a return on equity of 9.04% and a net margin of 20.02%.

Several equities research analysts have issued reports on MOFG shares. BidaskClub upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 22nd. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. ValuEngine downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Finally, TheStreet upgraded shares of MidWestOne Financial Group from a “c+” rating to a “b-” rating in a research report on Friday, March 1st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of MidWestOne Financial Group by 3.0% in the fourth quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock valued at $14,676,000 after buying an additional 17,183 shares in the last quarter. Vanguard Group Inc raised its position in shares of MidWestOne Financial Group by 0.4% in the third quarter. Vanguard Group Inc now owns 476,740 shares of the financial services provider’s stock valued at $15,880,000 after buying an additional 1,709 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MidWestOne Financial Group by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock valued at $9,540,000 after buying an additional 27,446 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of MidWestOne Financial Group by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock valued at $6,850,000 after buying an additional 14,489 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of MidWestOne Financial Group by 5.7% in the third quarter. Renaissance Technologies LLC now owns 219,849 shares of the financial services provider’s stock valued at $7,323,000 after buying an additional 11,849 shares in the last quarter. Institutional investors own 45.64% of the company’s stock.

Shares of MOFG stock opened at $29.11 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $352.72 million, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.16 and a beta of 1.07. MidWestOne Financial Group has a 12-month low of $23.80 and a 12-month high of $35.20.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as 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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