Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been assigned an average broker rating score of 2.00 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a 1 year consensus target price of $38.00 for the company and are anticipating that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also assigned MidWestOne Financial Group an industry rank of 12 out of 265 based on the ratings given to its competitors.
MOFG has been the topic of several recent research reports. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. BidaskClub lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Friday, December 22nd.
Shares of MidWestOne Financial Group (MOFG) traded up $0.25 during trading hours on Friday, reaching $33.50. The company’s stock had a trading volume of 34,002 shares, compared to its average volume of 45,208. The company has a market capitalization of $406.28, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.07 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. MidWestOne Financial Group has a 1-year low of $30.56 and a 1-year high of $38.29.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.17 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.68 annualized dividend and a yield of 2.03%. MidWestOne Financial Group’s payout ratio is currently 33.50%.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total value of $35,210.00. Following the transaction, the director now owns 2,275 shares in the company, valued at $80,102.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 25.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Archford Capital Strategies LLC raised its stake in shares of MidWestOne Financial Group by 133.9% in the second quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,145 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of MidWestOne Financial Group in the second quarter worth approximately $133,000. SG Americas Securities LLC purchased a new stake in shares of MidWestOne Financial Group in the third quarter worth approximately $181,000. Alliancebernstein L.P. purchased a new stake in shares of MidWestOne Financial Group in the second quarter worth approximately $217,000. Finally, Citadel Advisors LLC purchased a new stake in shares of MidWestOne Financial Group in the third quarter worth approximately $268,000. Institutional investors and hedge funds own 46.45% 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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