Zacks Investment Research upgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a sell rating to a hold rating in a research note published 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 research firms also recently weighed in on MOFG. BidaskClub raised shares of MidWestOne Financial Group from a hold rating to a buy rating in a research note on Thursday, October 11th. ValuEngine raised shares of MidWestOne Financial Group from a sell rating to a hold rating in a research note on Wednesday, August 15th. Finally, TheStreet downgraded shares of MidWestOne Financial Group from a b rating to a c+ rating in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $36.50.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The business 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%. On average, equities analysts expect that MidWestOne Financial Group will post 2.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Saturday, December 1st will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, November 29th. MidWestOne Financial Group’s dividend payout ratio is presently 43.09%.
A number of institutional investors have recently bought and sold shares of the business. Ramsey Quantitative Systems raised its stake in shares of MidWestOne Financial Group by 75.8% during the third quarter. Ramsey Quantitative Systems now owns 3,622 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,562 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of MidWestOne Financial Group during the third quarter valued at about $200,000. Acadian Asset Management LLC bought a new position in shares of MidWestOne Financial Group during the second quarter valued at about $281,000. MetLife Investment Advisors LLC raised its stake in shares of MidWestOne Financial Group by 55.4% during the third quarter. MetLife Investment Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 3,092 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of MidWestOne Financial Group during the third quarter valued at about $350,000. 45.95% of the stock is owned by institutional investors and hedge funds.
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, 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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