MidWestOne Financial Group, Inc. (MOFG) Given Consensus Rating of “Buy” by Brokerages
MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has earned an average broker rating score of 2.00 (Buy) from the three brokers that provide coverage for 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% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $38.00 for the company and are anticipating that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 115 out of 265 based on the ratings given to its competitors.
Several analysts have recently issued reports on the company. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub upgraded MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $37.00 price target on MidWestOne Financial Group and gave the stock a “hold” rating in a research note on Thursday, July 27th.
In related news, Director Kurt R. Weise sold 889 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total transaction of $29,256.99. Following the completion of the transaction, the director now owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kurt R. Weise sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total value of $35,210.00. Following the transaction, the director now directly owns 2,275 shares of the company’s stock, valued at approximately $80,102.75. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MOFG. Archford Capital Strategies LLC lifted its position in shares of MidWestOne Financial Group by 133.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,145 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of MidWestOne Financial Group during the 2nd quarter worth about $133,000. American International Group Inc. lifted its position in shares of MidWestOne Financial Group by 7.0% during the 1st quarter. American International Group Inc. now owns 5,077 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 332 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MidWestOne Financial Group during the 3rd quarter worth about $181,000. Finally, Alpine Woods Capital Investors LLC acquired a new position in shares of MidWestOne Financial Group during the 2nd quarter worth about $203,000. 47.14% of the stock is owned by institutional investors and hedge funds.
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Shares of MidWestOne Financial Group (NASDAQ:MOFG) opened at $34.63 on Monday. The stock has a market capitalization of $423.14, a PE ratio of 16.89, a PEG ratio of 2.47 and a beta of 1.23. MidWestOne Financial Group has a 52 week low of $30.56 and a 52 week high of $39.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.96%. MidWestOne Financial Group’s dividend payout ratio is presently 33.50%.
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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