MidWestOne Financial Group (NASDAQ:MOFG) Upgraded to “Buy” at StockNews.com

MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

MidWestOne Financial Group stock opened at $29.35 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.64 and a current ratio of 0.64. The business’s 50-day simple moving average is $31.54 and its two-hundred day simple moving average is $31.94. The company has a market cap of $460.21 million, a PE ratio of 7.53 and a beta of 0.97. MidWestOne Financial Group has a fifty-two week low of $27.08 and a fifty-two week high of $34.65.

MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. MidWestOne Financial Group had a return on equity of 11.66% and a net margin of 28.49%. As a group, analysts predict that MidWestOne Financial Group will post 3.63 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. LSV Asset Management increased its stake in MidWestOne Financial Group by 1.3% during the 1st quarter. LSV Asset Management now owns 105,680 shares of the financial services provider’s stock worth $3,498,000 after buying an additional 1,392 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in MidWestOne Financial Group by 33.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,587 shares of the financial services provider’s stock worth $55,000 after buying an additional 395 shares in the last quarter. BlackRock Inc. increased its stake in MidWestOne Financial Group by 5.6% during the 1st quarter. BlackRock Inc. now owns 1,058,704 shares of the financial services provider’s stock worth $35,041,000 after buying an additional 56,530 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of MidWestOne Financial Group by 16.8% in the first quarter. MetLife Investment Management LLC now owns 7,351 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 1,059 shares in the last quarter. Finally, FJ Capital Management LLC grew its position in shares of MidWestOne Financial Group by 94.5% in the first quarter. FJ Capital Management LLC now owns 70,012 shares of the financial services provider’s stock valued at $2,317,000 after purchasing an additional 34,012 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.

About MidWestOne Financial Group (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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