MidWestOne Financial Group (MOFG) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of MidWestOne Financial Group (NASDAQ:MOFG) from a hold rating to a sell rating in a research report report published on Friday.

Separately, Zacks Investment Research cut MidWestOne Financial Group from a hold rating to a sell rating in a report on Thursday, November 2nd.

Shares of MidWestOne Financial Group (MOFG) traded down $0.16 during trading on Friday, reaching $33.35. The company had a trading volume of 406,012 shares, compared to its average volume of 27,851. MidWestOne Financial Group has a one year low of $30.56 and a one year high of $38.56. The company has a market cap of $409.46, a PE ratio of 16.43, a P/E/G ratio of 2.39 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.04%. MidWestOne Financial Group’s dividend payout ratio is presently 33.50%.

In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total transaction of $35,210.00. Following the sale, the director now directly owns 2,275 shares of the company’s stock, valued at $80,102.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 25.30% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Royce & Associates LP raised its holdings in MidWestOne Financial Group by 22.5% during the second quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after acquiring an additional 123,036 shares during the period. Vanguard Group Inc. increased its holdings in shares of MidWestOne Financial Group by 13.4% in the second quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock worth $14,128,000 after purchasing an additional 49,377 shares during the last quarter. Thrivent Financial For Lutherans bought a new stake in shares of MidWestOne Financial Group in the second quarter worth about $8,890,000. Maltese Capital Management LLC increased its holdings in shares of MidWestOne Financial Group by 10.0% in the third quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after purchasing an additional 21,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of MidWestOne Financial Group by 17.9% in the third quarter. Dimensional Fund Advisors LP now owns 234,892 shares of the financial services provider’s stock worth $7,930,000 after purchasing an additional 35,607 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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MidWestOne Financial Group Company Profile

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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