BidaskClub upgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a sell rating to a hold rating in a report published on Saturday, January 13th.
Separately, Zacks Investment Research raised shares of MidWestOne Financial Group from a sell rating to a hold rating and set a $38.00 price objective on the stock in a research note on Saturday, December 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $38.50.
MidWestOne Financial Group (MOFG) remained flat at $$33.15 during trading hours on Friday. The company’s stock had a trading volume of 36,818 shares, compared to its average volume of 24,261. 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 52 week low of $30.56 and a 52 week high of $38.29. The firm has a market capitalization of $405.09, a price-to-earnings ratio of 16.33, a PEG ratio of 1.57 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.195 per share. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, February 28th. MidWestOne Financial Group’s dividend payout ratio is presently 33.50%.
In related news, COO Kevin E. Kramer acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the acquisition, the chief operating officer now directly owns 4,833 shares in the company, valued at approximately $161,132.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 2,500 shares of company stock worth $84,186. Insiders own 25.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Monarch Partners Asset Management LLC raised its holdings in MidWestOne Financial Group by 15.5% in the fourth quarter. Monarch Partners Asset Management LLC now owns 15,750 shares of the financial services provider’s stock valued at $528,000 after buying an additional 2,110 shares during the period. LSV Asset Management raised its stake in shares of MidWestOne Financial Group by 2.0% during the fourth quarter. LSV Asset Management now owns 121,749 shares of the financial services provider’s stock valued at $4,082,000 after purchasing an additional 2,429 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of MidWestOne Financial Group by 17.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 22,061 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 3,261 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake 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 valued at $794,000 after purchasing an additional 4,100 shares during the period. Finally, Maltese Capital Management LLC raised its stake 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 valued at $8,011,000 after purchasing an additional 21,500 shares during the period. Hedge funds and other institutional investors own 46.47% 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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