Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been assigned an average broker rating score of 2.20 (Buy) from the five analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. MidWestOne Financial Group’s rating score has declined by 10% from three months ago as a result of various analysts’ ratings changes.
Analysts have set a twelve-month consensus price target of $37.75 for the company and are forecasting that the company will post $0.59 earnings per share for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 56 out of 265 based on the ratings given to its competitors.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Piper Jaffray Companies assumed coverage on MidWestOne Financial Group in a research report on Thursday, April 6th. They set a “neutral” rating and a $37.00 price target on the stock. Finally, Keefe, Bruyette & Woods assumed coverage on MidWestOne Financial Group in a research report on Monday. They set an “outperform” rating and a $40.00 price target on the stock.
In other news, Director John M. Morrison sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $32.88, for a total value of $65,760,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 26.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in MidWestOne Financial Group by 2.6% in the third quarter. Prudential Financial Inc. now owns 30,632 shares of the financial services provider’s stock valued at $930,000 after buying an additional 770 shares in the last quarter. Martingale Asset Management L P increased its stake in MidWestOne Financial Group by 59.4% in the fourth quarter. Martingale Asset Management L P now owns 37,613 shares of the financial services provider’s stock valued at $1,415,000 after buying an additional 14,014 shares in the last quarter. Renaissance Technologies LLC raised its position in MidWestOne Financial Group by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 123,100 shares of the financial services provider’s stock valued at $4,629,000 after buying an additional 11,800 shares during the last quarter. John W. Rosenthal Capital Management Inc. purchased a new position in MidWestOne Financial Group during the fourth quarter valued at about $4,288,000. Finally, Sei Investments Co. purchased a new position in MidWestOne Financial Group during the third quarter valued at about $355,000. Institutional investors and hedge funds own 22.73% of the company’s stock.
Shares of MidWestOne Financial Group (NASDAQ:MOFG) traded down 0.20% on Friday, reaching $34.67. The company’s stock had a trading volume of 20,361 shares. MidWestOne Financial Group has a 12-month low of $26.50 and a 12-month high of $39.20. The stock has a market cap of $397.28 million, a PE ratio of 19.48 and a beta of 1.25. The firm has a 50 day moving average price of $34.94 and a 200-day moving average price of $34.59.
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MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.
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