MidWestOne Financial Group (MOFG) Cut to “Sell” at ValuEngine

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

MOFG has been the topic of several other research reports. BidaskClub cut shares of MidWestOne Financial Group from a hold rating to a sell rating in a research report on Friday, December 28th. Zacks Investment Research cut shares of MidWestOne Financial Group from a strong-buy rating to a hold rating in a research report on Thursday, October 25th. Finally, TheStreet cut shares of MidWestOne Financial Group from a b rating to a c+ rating in a research report on Thursday, November 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $36.50.

MidWestOne Financial Group stock opened at $25.64 on Friday. The company has a market cap of $315.94 million, a PE ratio of 14.17, a P/E/G ratio of 1.04 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. MidWestOne Financial Group has a 1 year low of $23.80 and a 1 year high of $35.20.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Saturday, December 1st were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Thursday, November 29th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 43.09%.

Hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems grew its holdings in shares of MidWestOne Financial Group by 75.8% in the third quarter. Ramsey Quantitative Systems now owns 3,622 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,562 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of MidWestOne Financial Group in the third quarter valued at $200,000. MetLife Investment Advisors LLC grew its holdings in shares of MidWestOne Financial Group by 55.4% in the third quarter. MetLife Investment Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 3,092 shares in the last quarter. Bailard Inc. purchased a new position in shares of MidWestOne Financial Group in the third quarter valued at $350,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of MidWestOne Financial Group by 11.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,561 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 2,500 shares in the last quarter. 45.95% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Why are analyst ratings important in trading stocks?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for MidWestOne Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MidWestOne Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit