MidWestOne Financial Group (NASDAQ:MOFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value. “

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of MidWestOne Financial Group from a “buy” rating to a “hold” rating in a report on Friday, October 19th. ValuEngine upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, TheStreet lowered shares of MidWestOne Financial Group from a “b” rating to a “c+” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.50.

MidWestOne Financial Group stock opened at $26.96 on Friday. The stock has a market capitalization of $332.57 million, a PE ratio of 14.90, a PEG ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.89 and a quick ratio of 0.89. MidWestOne Financial Group has a 12-month low of $26.06 and a 12-month high of $36.39.

MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The firm had revenue of $32.35 million during the quarter, compared to the consensus estimate of $32.53 million. MidWestOne Financial Group had a return on equity of 7.33% and a net margin of 14.22%. Research analysts forecast that MidWestOne Financial Group will post 2.53 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems lifted its holdings in shares of MidWestOne Financial Group by 75.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 3,622 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,562 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of MidWestOne Financial Group by 11.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,561 shares of the financial services provider’s stock worth $830,000 after acquiring an additional 2,500 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of MidWestOne Financial Group by 6.0% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 45,310 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 2,570 shares during the last quarter. IndexIQ Advisors LLC lifted its holdings in shares of MidWestOne Financial Group by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 68,286 shares of the financial services provider’s stock worth $2,275,000 after acquiring an additional 2,579 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in MidWestOne Financial Group by 55.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $289,000 after buying an additional 3,092 shares in the last quarter. Hedge funds and other institutional investors own 45.95% of the company’s stock.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as 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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