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

by · The Markets Daily

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

A number of other brokerages also recently commented on MOFG. Piper Sandler lowered their target price on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 price objective (up previously from $25.00) on shares of MidWestOne Financial Group in a report 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.com, the company presently has a consensus rating of “Hold” and an average target price of $27.00.

Check Out Our Latest Stock Analysis on MidWestOne Financial Group

MidWestOne Financial Group Trading Down 3.1 %

Shares of NASDAQ:MOFG opened at $28.94 on Monday. MidWestOne Financial Group has a 12-month low of $19.43 and a 12-month high of $30.51. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $456.47 million, a P/E ratio of -6.20 and a beta of 1.02. The firm has a fifty day moving average of $28.56 and a two-hundred day moving average of $25.01.

MidWestOne Financial Group Dividend Announcement

The business 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 $0.243 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.36%. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

Insider Transactions at MidWestOne Financial Group

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

Hedge Funds Weigh In On MidWestOne Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group in the 3rd quarter worth $163,000. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group during the second quarter worth about $247,000. Hsbc Holdings PLC bought a new position in MidWestOne Financial Group during the second quarter valued at about $329,000. Bank of Montreal Can bought a new position in MidWestOne Financial Group during the second quarter valued at about $388,000. Finally, Rhumbline Advisers raised its holdings in MidWestOne Financial Group by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 653 shares in the last quarter. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Company Profile

(Get Free Report)

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.

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