MidWestOne Financial Group (MOFG) Downgraded by Zacks Investment Research to Sell

MidWestOne Financial Group (NASDAQ:MOFG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value. “

Several other equities analysts also recently commented on the company. ValuEngine downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. BidaskClub upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st.



NASDAQ:MOFG opened at $28.81 on Thursday. MidWestOne Financial Group has a 52 week low of $28.22 and a 52 week high of $37.94. The company has a market capitalization of $353.68 million, a P/E ratio of 15.92, a PEG ratio of 1.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 0.87.

In related news, insider Charles N. Funk purchased 1,000 shares of the stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $33.50 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the insider now directly owns 104,829 shares in the company, valued at approximately $3,511,771.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 2,700 shares of company stock worth $85,815. Corporate insiders own 7.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its holdings in MidWestOne Financial Group by 1.4% during the second quarter. Royce & Associates LP now owns 733,424 shares of the financial services provider’s stock valued at $24,775,000 after purchasing an additional 10,102 shares during the last quarter. BlackRock Inc. boosted its position in shares of MidWestOne Financial Group by 6.4% in the second quarter. BlackRock Inc. now owns 565,800 shares of the financial services provider’s stock valued at $19,113,000 after acquiring an additional 34,126 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 334,154 shares of the financial services provider’s stock valued at $11,288,000 after acquiring an additional 25,575 shares during the period. Renaissance Technologies LLC boosted its position in shares of MidWestOne Financial Group by 4.2% in the second quarter. Renaissance Technologies LLC now owns 208,000 shares of the financial services provider’s stock valued at $7,026,000 after acquiring an additional 8,300 shares during the period. Finally, LSV Asset Management boosted its position in shares of MidWestOne Financial Group by 17.4% in the second quarter. LSV Asset Management now owns 142,898 shares of the financial services provider’s stock valued at $4,827,000 after acquiring an additional 21,149 shares during the period. Institutional investors own 45.69% of the company’s stock.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as 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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