MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has been assigned an average broker rating score of 2.20 (Buy) from the five analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. MidWestOne Financial Group’s rating score has declined by 10% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price objective of $37.75 for the company and are predicting that the company will post $0.59 earnings per share for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 56 out of 265 based on the ratings given to its competitors.
Several equities analysts have weighed in on the company. Zacks Investment Research raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Keefe, Bruyette & Woods assumed coverage on MidWestOne Financial Group in a research report on Monday. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Piper Jaffray Companies assumed coverage on MidWestOne Financial Group in a research report on Thursday, April 6th. They issued a “neutral” rating and a $37.00 target price for the company.
In other news, Director John M. Morrison sold 2,000,000 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $32.88, for a total transaction of $65,760,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in MOFG. Pacific Ridge Capital Partners LLC bought a new position in shares of MidWestOne Financial Group during the third quarter worth approximately $328,000. Sei Investments Co. acquired a new position in shares of MidWestOne Financial Group during the third quarter worth about $355,000. Bessemer Group Inc. increased its position in shares of MidWestOne Financial Group by 100.0% in the fourth quarter. Bessemer Group Inc. now owns 10,600 shares of the financial services provider’s stock worth $399,000 after buying an additional 5,300 shares during the period. Wells Fargo & Company MN increased its position in shares of MidWestOne Financial Group by 3.8% in the third quarter. Wells Fargo & Company MN now owns 27,064 shares of the financial services provider’s stock worth $822,000 after buying an additional 1,001 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of MidWestOne Financial Group by 6.3% in the third quarter. California Public Employees Retirement System now owns 28,800 shares of the financial services provider’s stock worth $875,000 after buying an additional 1,700 shares during the period. 22.73% of the stock is owned by institutional investors and hedge funds.
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Shares of MidWestOne Financial Group (NASDAQ:MOFG) traded down 0.20% during midday trading on Tuesday, hitting $34.67. 24,568 shares of the stock traded hands. MidWestOne Financial Group has a 12-month low of $26.50 and a 12-month high of $39.20. The stock has a market cap of $397.28 million, a price-to-earnings ratio of 19.48 and a beta of 1.25. The company’s 50 day moving average price is $34.94 and its 200-day moving average price is $34.59.
About MidWestOne Financial Group
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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