BidaskClub upgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.
MOFG has been the subject of several other research reports. Sandler O’Neill restated a buy rating and issued a $39.00 target price on shares of MidWestOne Financial Group in a research note on Friday, January 19th. Zacks Investment Research downgraded MidWestOne Financial Group from a buy rating to a hold rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $38.50.
Shares of MidWestOne Financial Group (NASDAQ:MOFG) traded up $0.38 during midday trading on Thursday, reaching $34.04. The company’s stock had a trading volume of 30,455 shares, compared to its average volume of 38,118. MidWestOne Financial Group has a fifty-two week low of $30.56 and a fifty-two week high of $37.94. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $414.04, a P/E ratio of 16.75, a P/E/G ratio of 1.54 and a beta of 1.06.
In other MidWestOne Financial Group news, COO Kevin E. Kramer purchased 1,000 shares of the company’s 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 transaction, the chief operating officer now owns 4,833 shares in the company, valued at approximately $161,132.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen L. West purchased 3,000 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. In the last quarter, insiders have bought 5,200 shares of company stock valued at $172,059. Corporate insiders own 25.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $181,000. MetLife Investment Advisors LLC bought a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at about $187,000. Brandywine Global Investment Management LLC boosted its position in shares of 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 valued at $191,000 after acquiring an additional 1,794 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $268,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at about $286,000. Hedge funds and other institutional investors own 43.87% of the company’s stock.
About MidWestOne Financial Group
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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