MidWestOne Financial Group (MOFG) Downgraded to “Sell” at BidaskClub

MidWestOne Financial Group (NASDAQ:MOFG) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, January 23rd.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Sandler O’Neill restated a “buy” rating and issued a $39.00 price objective on shares of MidWestOne Financial Group in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. MidWestOne Financial Group presently has an average rating of “Hold” and an average price target of $38.50.

Shares of MidWestOne Financial Group (NASDAQ:MOFG) traded down $0.17 during midday trading on Tuesday, reaching $30.99. The company’s stock had a trading volume of 121,191 shares, compared to its average volume of 31,122. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $381.13, a P/E ratio of 15.35, a PEG ratio of 1.47 and a beta of 1.07. MidWestOne Financial Group has a fifty-two week low of $30.56 and a fifty-two week high of $38.29.

In related news, COO Kevin E. Kramer purchased 1,000 shares of MidWestOne Financial Group stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the chief operating officer now owns 4,833 shares in the company, valued at $161,132.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen L. West acquired 3,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was acquired 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. Over the last quarter, insiders have purchased 5,500 shares of company stock valued at $183,246. 25.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Monashee Investment Management LLC acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter worth approximately $8,114,000. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 49,377 shares during the last quarter. State Street Corp boosted its stake in shares of 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 acquiring an additional 39,292 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 35,607 shares during the last quarter. Finally, Banc Funds Co. LLC boosted its stake in shares of 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 acquiring an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 46.22% 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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