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

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.1667.

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

Insider Activity at MidWestOne Financial Group

In other news, CEO Charles N. Reeves bought 760 shares of MidWestOne Financial Group stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $37.91 per share, for a total transaction of $28,811.60. Following the purchase, the chief executive officer directly owned 62,752 shares in the company, valued at approximately $2,378,928.32. This represents a 1.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 3,760 shares of company stock valued at $138,546. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MidWestOne Financial Group

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in MidWestOne Financial Group by 80.9% in the 4th quarter. SG Americas Securities LLC now owns 8,074 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 3,610 shares during the period. JPMorgan Chase & Co. grew its stake in MidWestOne Financial Group by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,671 shares of the financial services provider’s stock worth $4,008,000 after buying an additional 3,459 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of MidWestOne Financial Group during the third quarter valued at about $472,000. Numerai GP LLC grew its holdings in shares of MidWestOne Financial Group by 70.9% in the third quarter. Numerai GP LLC now owns 38,031 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 15,781 shares during the last quarter. Finally, Maltese Capital Management LLC raised its stake in shares of MidWestOne Financial Group by 5.6% during the third quarter. Maltese Capital Management LLC now owns 363,402 shares of the financial services provider’s stock valued at $10,281,000 after acquiring an additional 19,301 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Trading Down 2.8%

MidWestOne Financial Group stock opened at $39.16 on Friday. The company has a market cap of $807.87 million, a price-to-earnings ratio of 13.94 and a beta of 1.06. MidWestOne Financial Group has a one year low of $24.62 and a one year high of $42.38. The firm has a 50-day moving average of $39.56 and a 200-day moving average of $33.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

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

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.97 dividend on an annualized basis and a yield of 2.5%. MidWestOne Financial Group’s dividend payout ratio is 34.52%.

MidWestOne Financial Group Company Profile

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.