MidWestOne Financial Group (NASDAQ:MOFG) Cut to Hold at StockNews.com

MidWestOne Financial Group (NASDAQ:MOFGGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Zacks Investment Research raised MidWestOne Financial Group from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, January 5th.

Shares of MOFG opened at $31.66 on Tuesday. MidWestOne Financial Group has a 1 year low of $27.08 and a 1 year high of $34.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $31.75 and a 200-day simple moving average of $32.00. The stock has a market cap of $496.87 million, a PE ratio of 7.24 and a beta of 0.96.

MidWestOne Financial Group (NASDAQ:MOFGGet Rating) last released its quarterly earnings results on Thursday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter. MidWestOne Financial Group had a return on equity of 13.24% and a net margin of 31.70%. The firm had revenue of $50.05 million during the quarter. On average, sell-side analysts forecast that MidWestOne Financial Group will post 3.58 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its position in shares of MidWestOne Financial Group by 1.7% in the 3rd quarter. California State Teachers Retirement System now owns 20,215 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 339 shares during the last quarter. Shell Asset Management Co. boosted its position in shares of MidWestOne Financial Group by 2.9% in the 4th quarter. Shell Asset Management Co. now owns 18,149 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 504 shares during the last quarter. Royal Bank of Canada boosted its position in shares of MidWestOne Financial Group by 6.8% in the 3rd quarter. Royal Bank of Canada now owns 9,988 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 637 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of MidWestOne Financial Group by 0.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 152,624 shares of the financial services provider’s stock worth $4,603,000 after purchasing an additional 720 shares during the last quarter. Finally, Credit Suisse AG boosted its position in shares of MidWestOne Financial Group by 7.8% in the 4th quarter. Credit Suisse AG now owns 10,912 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 64.99% of the company’s stock.

MidWestOne Financial Group Company Profile (Get Rating)

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 deposit products, such as noninterest bearing and interest-bearing demand deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit, and time deposits.

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