MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Given Average Rating of “Hold” by Brokerages

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been given a consensus recommendation of “Hold” by the six analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $38.1667.

Several brokerages have recently weighed in on MOFG. Weiss Ratings reiterated a “hold (c+)” rating on shares of MidWestOne Financial Group in a report on Monday, December 29th. Stephens lowered shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th.

MidWestOne Financial Group Stock Performance

Shares of MOFG opened at $39.16 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. MidWestOne Financial Group has a 52-week low of $24.62 and a 52-week high of $42.38. The company has a 50-day simple moving average of $39.56 and a 200-day simple moving average of $33.07. The company has a market capitalization of $807.87 million, a PE ratio of 13.94 and a beta of 1.06.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter. MidWestOne Financial Group had a return on equity of 10.22% and a net margin of 16.66%.The firm had revenue of $50.10 million during the quarter. Equities research analysts predict that MidWestOne Financial Group will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, January 16th. MidWestOne Financial Group’s payout ratio is presently 34.52%.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves bought 1,550 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $36.67 per share, with a total value of $56,838.50. Following the completion of the transaction, the chief executive officer directly owned 60,542 shares of the company’s stock, valued at $2,220,075.14. This trade represents a 2.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders bought 3,760 shares of company stock valued at $138,546. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOFG. Federated Hermes Inc. grew its holdings in shares of MidWestOne Financial Group by 129.2% in the 3rd quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 700 shares during the last quarter. Russell Investments Group Ltd. lifted its position in MidWestOne Financial Group by 12,135.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,713 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,699 shares during the period. CWM LLC grew its holdings in MidWestOne Financial Group by 238.8% during the 2nd quarter. CWM LLC now owns 3,175 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 2,238 shares during the period. BNP Paribas Financial Markets grew its stake in shares of MidWestOne Financial Group by 65.0% during the third quarter. BNP Paribas Financial Markets now owns 3,298 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 1,299 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of MidWestOne Financial Group in the 2nd quarter valued at about $98,000. Institutional investors own 65.42% of the company’s stock.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.