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 research report issued to clients and investors on Monday.

Shares of NASDAQ MOFG traded up $0.88 during trading on Monday, reaching $29.54. 36,956 shares of the stock traded hands, compared to its average volume of 31,525. MidWestOne Financial Group has a 52-week low of $27.08 and a 52-week high of $34.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50-day moving average of $31.18 and a 200-day moving average of $31.77. The stock has a market capitalization of $463.19 million, a P/E ratio of 7.57 and a beta of 0.97.

MidWestOne Financial Group (NASDAQ:MOFGGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.05. The business had revenue of $48.98 million for the quarter, compared to analysts’ expectations of $47.20 million. MidWestOne Financial Group had a return on equity of 11.80% and a net margin of 28.49%. Analysts expect that MidWestOne Financial Group will post 3.68 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Denali Advisors LLC bought a new position in MidWestOne Financial Group in the 4th quarter worth about $26,000. Lazard Asset Management LLC bought a new position in MidWestOne Financial Group in the 4th quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in MidWestOne Financial Group in the 4th quarter worth about $50,000. Great West Life Assurance Co. Can increased its position in shares of 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 valued at $55,000 after purchasing an additional 395 shares during the last quarter. Finally, Parkside Investments LLC bought a new position in shares of MidWestOne Financial Group during the 1st quarter valued at about $101,000. Institutional investors and hedge funds own 65.04% 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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