MidWestOne Financial Group (NASDAQ:MOFG) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Several other equities research analysts have also issued reports on the stock. Sandler O’Neill reissued a “buy” rating and issued a $39.00 price target on shares of MidWestOne Financial Group in a report on Friday, January 19th. Zacks Investment Research raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a report on Saturday, December 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.50.
Shares of MidWestOne Financial Group (NASDAQ MOFG) opened at $31.06 on Thursday. The stock has a market cap of $378.69, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. MidWestOne Financial Group has a fifty-two week low of $30.56 and a fifty-two week high of $38.29.
In other news, Director Stephen L. West bought 3,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, February 5th. The shares were bought at an average price of $33.02 per share, for a total transaction of $99,060.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kevin E. Kramer bought 1,000 shares of MidWestOne Financial Group stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the chief operating officer now directly owns 4,833 shares in the company, valued at approximately $161,132.22. The disclosure for this purchase can be found here. Insiders bought a total of 5,200 shares of company stock worth $172,908 in the last 90 days. 25.30% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of MidWestOne Financial Group by 3.0% in the 4th quarter. Royce & Associates LP now owns 654,571 shares of the financial services provider’s stock valued at $21,948,000 after purchasing an additional 18,832 shares in the last quarter. BlackRock Inc. boosted its stake in shares of MidWestOne Financial Group by 1.9% in the 4th quarter. BlackRock Inc. now owns 530,560 shares of the financial services provider’s stock valued at $17,789,000 after purchasing an additional 9,907 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MidWestOne Financial Group by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock valued at $14,128,000 after purchasing an additional 49,377 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of MidWestOne Financial Group by 10.8% in the 4th quarter. Thrivent Financial For Lutherans now owns 290,610 shares of the financial services provider’s stock valued at $9,745,000 after purchasing an additional 28,310 shares in the last quarter. Finally, Monashee Investment Management LLC acquired a new stake in shares of MidWestOne Financial Group in the 4th quarter valued at $8,114,000. Institutional investors own 46.22% 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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