Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been given a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. MidWestOne Financial Group’s rating score has improved by 11.1% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a 12-month consensus price objective of $38.00 for the company and are expecting that the company will post $0.62 EPS for the current quarter, according to Zacks. Zacks has also assigned MidWestOne Financial Group an industry rank of 162 out of 265 based on the ratings given to its competitors.
A number of equities analysts have commented on MOFG shares. BidaskClub upgraded shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd.
In other news, Director Kurt R. Weise sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $35.21, for a total transaction of $35,210.00. Following the transaction, the director now owns 2,275 shares in the company, valued at $80,102.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 25.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP increased its holdings in shares of MidWestOne Financial Group by 22.5% during the second quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after acquiring an additional 123,036 shares in the last quarter. Vanguard Group Inc. increased its holdings in MidWestOne Financial Group by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock worth $14,128,000 after buying an additional 49,377 shares during the period. Thrivent Financial For Lutherans acquired a new position in MidWestOne Financial Group in the 2nd quarter worth approximately $8,890,000. Maltese Capital Management LLC increased its holdings in MidWestOne Financial Group by 10.0% in the 3rd quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after buying an additional 21,500 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in MidWestOne Financial Group by 17.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 234,892 shares of the financial services provider’s stock worth $7,930,000 after buying an additional 35,607 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Shares of MidWestOne Financial Group (NASDAQ MOFG) opened at $35.98 on Thursday. MidWestOne Financial Group has a one year low of $30.56 and a one year high of $39.20. The firm has a market cap of $439.76, a PE ratio of 17.49, a P/E/G ratio of 2.56 and a beta of 1.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.89%. MidWestOne Financial Group’s dividend payout ratio is presently 33.50%.
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MidWestOne Financial Group Company Profile
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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