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

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

A number of other research firms have also recently weighed in on MOFG. TheStreet upgraded shares of MidWestOne Financial Group from a c+ rating to a b- rating in a report on Friday, March 1st. Zacks Investment Research upgraded shares of MidWestOne Financial Group from a sell rating to a hold rating in a report on Thursday, April 11th. Finally, BidaskClub upgraded shares of MidWestOne Financial Group from a sell rating to a hold rating in a report on Thursday, May 9th.

NASDAQ:MOFG opened at $26.19 on Friday. MidWestOne Financial Group has a fifty-two week low of $23.80 and a fifty-two week high of $35.20. The company has a market cap of $434.03 million, a PE ratio of 10.31, a P/E/G ratio of 1.12 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $28.13.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $31.39 million during the quarter, compared to the consensus estimate of $32.02 million. Equities analysts expect that MidWestOne Financial Group will post 2.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, April 29th were paid a $0.2025 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, April 26th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 31.89%.

In related news, Director Richard J. Hartig bought 1,000 shares of the stock in a transaction that occurred on 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased a total of 1,600 shares of company stock valued at $45,815 over the last quarter. 3.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in MOFG. BNP Paribas Arbitrage SA boosted its stake in MidWestOne Financial Group by 502.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,948 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in MidWestOne Financial Group by 355.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,962 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 3,092 shares in the last quarter. Bank of America Corp DE boosted its stake in MidWestOne Financial Group by 63.3% in the 4th quarter. Bank of America Corp DE now owns 7,859 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 3,045 shares in the last quarter. EJF Capital LLC acquired a new stake in MidWestOne Financial Group in the 4th quarter worth approximately $252,000. Finally, Acadian Asset Management LLC boosted its stake in MidWestOne Financial Group by 19.3% in the 4th quarter. Acadian Asset Management LLC now owns 11,260 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 1,822 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

About MidWestOne Financial Group

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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