MidWestOne Financial Group (NASDAQ:MOFG) Cut to “Sell” at ValuEngine

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

Several other equities analysts also recently commented on MOFG. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a hold rating to a sell rating in a research report on Saturday, October 26th. BidaskClub upgraded MidWestOne Financial Group from a hold rating to a buy rating in a research note on Friday, November 1st.

NASDAQ MOFG traded up $0.38 during trading on Wednesday, reaching $34.51. The company’s stock had a trading volume of 32,235 shares, compared to its average volume of 28,452. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $557.72 million, a PE ratio of 13.59 and a beta of 0.97. MidWestOne Financial Group has a 1-year low of $23.80 and a 1-year high of $37.04. The business has a 50-day moving average price of $33.41 and a 200-day moving average price of $30.08.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.07). The business had revenue of $51.26 million for the quarter, compared to analyst estimates of $48.20 million. MidWestOne Financial Group had a return on equity of 9.98% and a net margin of 19.56%. As a group, analysts expect that MidWestOne Financial Group will post 3.07 earnings per share for the current year.

The company also recently declared a dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.2025 dividend. The ex-dividend date of this dividend is Friday, November 29th. MidWestOne Financial Group’s dividend payout ratio is 31.89%.

In other news, Director Kurt R. Weise sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $31.77, for a total value of $31,770.00. Following the completion of the sale, the director now directly owns 2,731 shares in the company, valued at $86,763.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of MidWestOne Financial Group by 721.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 895 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 786 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of MidWestOne Financial Group by 497.0% during the second quarter. Meeder Asset Management Inc. now owns 1,194 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of MidWestOne Financial Group by 122.0% during the second quarter. Bank of Montreal Can now owns 1,776 shares of the financial services provider’s stock worth $49,000 after buying an additional 976 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MidWestOne Financial Group by 100.4% in the second quarter. JPMorgan Chase & Co. now owns 5,456 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 2,734 shares during the period. Finally, Zebra Capital Management LLC bought a new stake in shares of MidWestOne Financial Group in the third quarter valued at approximately $209,000. 55.09% of the stock is currently owned by institutional investors.

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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