BidaskClub Lowers MidWestOne Financial Group (NASDAQ:MOFG) to Sell

BidaskClub downgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

A number of other research firms have also issued reports on MOFG. Zacks Investment Research lowered MidWestOne Financial Group from a hold rating to a sell rating in a report on Saturday, June 8th. TheStreet raised MidWestOne Financial Group from a c+ rating to a b- rating in a report on Friday, March 1st. Finally, ValuEngine raised MidWestOne Financial Group from a sell rating to a hold rating in a report on Saturday, May 4th.

MOFG opened at $26.02 on Friday. The firm has a market capitalization of $423.14 million, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. MidWestOne Financial Group has a 52 week low of $23.80 and a 52 week high of $35.20. The stock’s 50 day moving average price is $28.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.88.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). The firm had revenue of $31.39 million for the quarter, compared to analyst estimates of $32.02 million. MidWestOne Financial Group had a return on equity of 8.80% and a net margin of 19.41%. On average, sell-side analysts predict that MidWestOne Financial Group will post 2.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, April 29th were paid a $0.2025 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.11%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 31.89%.

In other MidWestOne Financial Group news, Director Richard J. Hartig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $29.04 per share, for a total transaction of $29,040.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 1,600 shares of company stock worth $45,815. Company insiders own 3.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of MOFG. BNP Paribas Arbitrage SA boosted its stake in shares of MidWestOne Financial Group by 502.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the financial services provider’s stock valued at $64,000 after buying an additional 1,948 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of MidWestOne Financial Group by 355.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,962 shares of the financial services provider’s stock valued at $98,000 after buying an additional 3,092 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of MidWestOne Financial Group by 63.3% in the fourth quarter. Bank of America Corp DE now owns 7,859 shares of the financial services provider’s stock valued at $195,000 after buying an additional 3,045 shares in the last quarter. EJF Capital LLC purchased a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $252,000. Finally, Acadian Asset Management LLC boosted its stake in shares of MidWestOne Financial Group by 19.3% in the fourth quarter. Acadian Asset Management LLC now owns 11,260 shares of the financial services provider’s stock valued at $280,000 after buying an additional 1,822 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts and other time deposits.

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