BidaskClub Upgrades MidWestOne Financial Group (MOFG) to Hold

MidWestOne Financial Group (NASDAQ:MOFG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd.

MidWestOne Financial Group (NASDAQ MOFG) opened at $34.75 on Friday. MidWestOne Financial Group has a one year low of $30.56 and a one year high of $38.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $412.39, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.24.

In other news, Director Kurt R. Weise sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total transaction of $35,210.00. Following the sale, the director now owns 2,275 shares of the company’s stock, valued at $80,102.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 25.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. raised its position in shares of MidWestOne Financial Group by 21.1% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 23,555 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 4,100 shares during the period. Maltese Capital Management LLC raised its position in shares of MidWestOne Financial Group by 10.0% during the third quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after purchasing an additional 21,500 shares during the period. OxFORD Asset Management LLP raised its position in shares of MidWestOne Financial Group by 16.5% during the third quarter. OxFORD Asset Management LLP now owns 21,328 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 3,026 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MidWestOne Financial Group by 17.9% during 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 during the period. Finally, Wells Fargo & Company MN raised its position in shares of MidWestOne Financial Group by 18.7% during the third quarter. Wells Fargo & Company MN now owns 35,355 shares of the financial services provider’s stock worth $1,193,000 after purchasing an additional 5,575 shares during the period. 46.45% of the stock is currently owned by institutional investors.

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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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