StockNews.com Upgrades MidWestOne Financial Group (NASDAQ:MOFG) to “Hold”

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

A number of other analysts have also recently commented on MOFG. Piper Sandler dropped their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods raised MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Hovde Group lifted their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research report on Monday.

MidWestOne Financial Group Stock Down 0.2 %

MOFG opened at $31.99 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group has a 12 month low of $19.43 and a 12 month high of $34.56. The business’s 50-day moving average price is $30.88 and its 200-day moving average price is $29.38. The company has a market cap of $664.43 million, a P/E ratio of -6.85 and a beta of 1.05.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 5.13% and a net margin of 9.79%. On average, equities analysts expect that MidWestOne Financial Group will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MOFG. Dimensional Fund Advisors LP boosted its stake in shares of MidWestOne Financial Group by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock valued at $15,901,000 after purchasing an additional 25,767 shares during the period. Renaissance Technologies LLC purchased a new position in MidWestOne Financial Group during the 2nd quarter worth $247,000. Hsbc Holdings PLC acquired a new position in MidWestOne Financial Group during the 2nd quarter valued at approximately $329,000. Bank of Montreal Can acquired a new stake in MidWestOne Financial Group during the 2nd quarter worth about $388,000. Finally, SG Americas Securities LLC acquired a new position in MidWestOne Financial Group in the 3rd quarter worth approximately $163,000. 65.42% of the stock is 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, 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.