MidWestOne Financial Group (NASDAQ:MOFG) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other analysts also recently weighed in on MOFG. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Piper Sandler lowered their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.00.

MidWestOne Financial Group Price Performance

Shares of MOFG stock opened at $29.86 on Monday. MidWestOne Financial Group has a 52 week low of $19.43 and a 52 week high of $30.51. The stock’s fifty day moving average is $28.53 and its 200-day moving average is $24.99. The stock has a market capitalization of $470.44 million, a PE ratio of 20.74 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 67.36%.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves acquired 7,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Matthew J. Hayek bought 2,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the director now owns 11,293 shares of the company’s stock, valued at $282,325. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles N. Reeves bought 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the purchase, the chief executive officer now owns 45,712 shares of the company’s stock, valued at $1,142,800. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,400 shares of company stock valued at $235,000 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MOFG. MidWestOne Financial Group Inc. lifted its position in MidWestOne Financial Group by 1.0% during the second quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock worth $94,397,000 after purchasing an additional 43,172 shares during the period. Dimensional Fund Advisors LP grew its position in MidWestOne Financial Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock worth $15,901,000 after acquiring an additional 25,767 shares during the last quarter. SG Americas Securities LLC acquired a new position in MidWestOne Financial Group in the 3rd quarter worth about $163,000. Vanguard Group Inc. raised its holdings in MidWestOne Financial Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock valued at $14,796,000 after buying an additional 15,512 shares during the last quarter. Finally, Choreo LLC bought a new position in MidWestOne Financial Group during the 2nd quarter worth $584,000. 65.42% of the stock is currently 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, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.