Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have earned an average broker rating score of 2.25 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. MidWestOne Financial Group’s rating score has declined by 12.5% in the last three months as a result of various analysts’ ratings changes.
Analysts have set a one year consensus target price of $35.67 for the company, according to Zacks. Zacks has also assigned MidWestOne Financial Group an industry rank of 97 out of 265 based on the ratings given to its competitors.
MOFG has been the topic of a number of recent research reports. BidaskClub cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded 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 research note on Saturday, December 30th. Finally, Sandler O’Neill restated a “buy” rating and set a $39.00 price target on shares of MidWestOne Financial Group in a research note on Friday, January 19th.
Shares of MidWestOne Financial Group (MOFG) traded down $0.18 during mid-day trading on Friday, hitting $33.66. 43,124 shares of the company were exchanged, compared to its average volume of 38,297. The stock has a market cap of $418.69, a PE ratio of 16.69, a P/E/G ratio of 1.56 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.44. MidWestOne Financial Group has a 12 month low of $30.56 and a 12 month high of $38.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, February 28th. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s dividend payout ratio is 38.42%.
In other news, Director Stephen L. West bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of $33.02 per share, with a total value of $99,060.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Kevin E. Kramer bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased 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 disclosure for this purchase can be found here. Insiders have purchased a total of 5,200 shares of company stock worth $172,059 in the last ninety days. 25.30% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of MOFG. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $181,000. MetLife Investment Advisors LLC bought a new stake in MidWestOne Financial Group during the 4th quarter worth approximately $187,000. Brandywine Global Investment Management LLC increased its holdings in MidWestOne Financial Group by 46.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 5,671 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 1,794 shares during the period. Alliancebernstein L.P. bought a new position in shares of MidWestOne Financial Group in the 2nd quarter worth $217,000. Finally, Citadel Advisors LLC bought a new position in shares of MidWestOne Financial Group in the 3rd quarter worth $268,000. 43.87% of the stock is currently owned by institutional investors and hedge funds.
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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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