MidWestOne Financial Group (NASDAQ:MOFG) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a sell rating to a hold rating in a research report sent to investors on Monday.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th. Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday, October 28th. Finally, Hovde Group boosted their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research report on Monday.

MidWestOne Financial Group Stock Up 3.5 %

Shares of NASDAQ MOFG opened at $32.06 on Monday. The company has a market capitalization of $666.05 million, a P/E ratio of -6.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The company has a 50 day simple moving average of $30.89 and a 200-day simple moving average of $29.28. MidWestOne Financial Group has a 1 year low of $19.43 and a 1 year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 5.13% and a net margin of 9.79%. On average, equities research analysts predict that MidWestOne Financial Group will post 2.3 earnings per share for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s payout ratio is -23.89%.

Institutional Investors Weigh In On MidWestOne Financial Group

Several large investors have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC purchased a new position in MidWestOne Financial Group in the 3rd quarter valued at approximately $163,000. Renaissance Technologies LLC purchased a new position in MidWestOne Financial Group in the second quarter valued at $247,000. Virtu Financial LLC acquired a new position in MidWestOne Financial Group during the 3rd quarter worth $261,000. Apella Capital LLC acquired a new position in MidWestOne Financial Group during the 4th quarter worth $268,000. Finally, Hsbc Holdings PLC purchased a new stake in MidWestOne Financial Group during the 2nd quarter worth about $329,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Company Profile

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, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.