StockNews.com Downgrades MidWestOne Financial Group (NASDAQ:MOFG) to Sell

MidWestOne Financial Group (NASDAQ:MOFG) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 target price (up from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.00.

MidWestOne Financial Group Stock Down 0.4 %

Shares of NASDAQ:MOFG opened at $29.12 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. MidWestOne Financial Group has a 52-week low of $19.43 and a 52-week high of $30.51. The stock’s fifty day simple moving average is $28.45 and its 200-day simple moving average is $24.89. The company has a market capitalization of $458.79 million, a P/E ratio of 20.30 and a beta of 1.02.

Insider Activity

In related news, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Charles N. Reeves bought 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The shares were bought 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 approximately $1,142,800. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew J. Hayek bought 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director now directly owns 11,293 shares in the company, valued at $282,325. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,400 shares of company stock valued at $235,000 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of MidWestOne Financial Group

A number of large investors have recently bought and sold shares of MOFG. SG Americas Securities LLC bought a new position in shares of MidWestOne Financial Group during the 3rd quarter worth approximately $163,000. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group during the 2nd quarter valued at $247,000. Hsbc Holdings PLC acquired a new stake in shares of MidWestOne Financial Group during the second quarter worth $329,000. Bank of Montreal Can acquired a new stake in shares of MidWestOne Financial Group during the second quarter worth $388,000. Finally, Rhumbline Advisers increased its position in shares of MidWestOne Financial Group by 3.0% in the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 653 shares during the period. 65.42% of the stock is owned by 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, 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.