MidWestOne Financial Group (NASDAQ:MOFG) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.
Several other research firms also recently weighed in on MOFG. Zacks Investment Research upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a report on Saturday, December 30th. Sandler O’Neill reiterated a “buy” rating and issued a $39.00 target price on shares of MidWestOne Financial Group in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. MidWestOne Financial Group has an average rating of “Hold” and a consensus target price of $38.50.
Shares of MidWestOne Financial Group (NASDAQ MOFG) opened at $33.84 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $417.10, a PE ratio of 16.67, a P/E/G ratio of 1.56 and a beta of 1.06. MidWestOne Financial Group has a fifty-two week low of $30.56 and a fifty-two week high of $38.00.
In other news, COO Kevin E. Kramer bought 1,000 shares of MidWestOne Financial Group stock in a transaction on Wednesday, January 31st. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the acquisition, the chief operating officer now owns 4,833 shares of the company’s stock, valued at approximately $161,132.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. West bought 3,000 shares of MidWestOne Financial Group stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $33.02 per share, with a total value of $99,060.00. The disclosure for this purchase can be found here. Insiders acquired 5,200 shares of company stock valued at $172,059 over the last quarter. 25.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in MOFG. Monashee Investment Management LLC bought a new position in MidWestOne Financial Group in the fourth quarter worth about $8,114,000. Vanguard Group Inc. raised its holdings in MidWestOne Financial Group by 13.4% in the second quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock worth $14,128,000 after purchasing an additional 49,377 shares in the last quarter. State Street Corp raised its holdings in MidWestOne Financial Group by 30.2% in the second quarter. State Street Corp now owns 169,592 shares of the financial services provider’s stock worth $5,749,000 after purchasing an additional 39,292 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 35,607 shares in the last quarter. Finally, Banc Funds Co. LLC raised its holdings in MidWestOne Financial Group by 37.9% in the fourth quarter. Banc Funds Co. LLC now owns 109,100 shares of the financial services provider’s stock worth $3,658,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 43.87% of the company’s stock.
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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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