ValuEngine Downgrades MidWestOne Financial Group (NASDAQ:MOFG) to Sell

ValuEngine lowered shares of MidWestOne Financial Group (NASDAQ:MOFG) from a hold rating to a sell rating in a research note published on Friday, March 22nd, ValuEngine reports.

Several other research analysts have also issued reports on the stock. TheStreet raised shares of MidWestOne Financial Group from a c+ rating to a b- rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of MidWestOne Financial Group from a buy rating to a hold rating in a research note on Tuesday, February 12th. Finally, BidaskClub raised shares of MidWestOne Financial Group from a sell rating to a hold rating in a research note on Tuesday, February 5th.

NASDAQ MOFG traded down $0.10 on Friday, hitting $29.11. The company’s stock had a trading volume of 10,600 shares, compared to its average volume of 20,728. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 0.88. MidWestOne Financial Group has a 1-year low of $23.80 and a 1-year high of $35.20. The stock has a market cap of $352.72 million, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, January 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.03). The company had revenue of $32.37 million for the quarter, compared to the consensus estimate of $32.59 million. MidWestOne Financial Group had a return on equity of 9.04% and a net margin of 20.02%. Analysts predict that MidWestOne Financial Group will post 3.12 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY lifted its stake in shares of MidWestOne Financial Group by 355.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,962 shares of the financial services provider’s stock valued at $98,000 after buying an additional 3,092 shares in the last quarter. Ramsey Quantitative Systems lifted its stake in shares of MidWestOne Financial Group by 38.7% in the fourth quarter. Ramsey Quantitative Systems now owns 5,022 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,400 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of MidWestOne Financial Group in the third quarter valued at $200,000. Bank of America Corp DE lifted its stake in shares of MidWestOne Financial Group by 63.3% in the fourth quarter. Bank of America Corp DE now owns 7,859 shares of the financial services provider’s stock valued at $195,000 after buying an additional 3,045 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake 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 buying an additional 3,092 shares in the last quarter. 45.64% of the stock is currently 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, 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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