MidWestOne Financial Group (NASDAQ:MOFG) Downgraded by BidaskClub to “Sell”

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

Several other analysts also recently issued reports on MOFG. ValuEngine downgraded MidWestOne Financial Group from a hold rating to a sell rating in a report on Saturday. Zacks Investment Research downgraded MidWestOne Financial Group from a hold rating to a sell rating in a report on Saturday, June 8th. Finally, TheStreet upgraded MidWestOne Financial Group from a c+ rating to a b- rating in a report on Friday, March 1st.

Shares of NASDAQ MOFG opened at $26.19 on Friday. MidWestOne Financial Group has a 12-month low of $23.80 and a 12-month high of $35.20. The firm has a market cap of $434.03 million, a P/E ratio of 10.31, a P/E/G ratio of 1.12 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $28.13.



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

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, April 29th were paid a dividend of $0.2025 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $0.81 annualized dividend and a dividend yield of 3.09%. MidWestOne Financial Group’s dividend payout ratio is presently 31.89%.

In other MidWestOne Financial Group news, Director Richard J. Hartig bought 1,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $29.04 per share, for a total transaction of $29,040.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have bought 1,600 shares of company stock valued at $45,815 over the last 90 days. Insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of MidWestOne Financial Group by 3.0% during the fourth quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock valued at $14,676,000 after acquiring an additional 17,183 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MidWestOne Financial Group by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock worth $9,540,000 after purchasing an additional 27,446 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in MidWestOne Financial Group by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock worth $6,850,000 after purchasing an additional 14,489 shares in the last quarter. Northern Trust Corp grew its stake in MidWestOne Financial Group by 0.9% in the fourth quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock worth $3,260,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in MidWestOne Financial Group by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 106,610 shares of the financial services provider’s stock worth $2,647,000 after purchasing an additional 6,046 shares in the last quarter. 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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