Zacks Investment Research upgraded shares of MidWestOne Financial Group (NASDAQ:MOFG) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value. “

MOFG has been the topic of a number of other reports. BidaskClub upgraded MidWestOne Financial Group from a sell rating to a hold rating in a research note on Monday, April 1st. ValuEngine upgraded MidWestOne Financial Group from a sell rating to a hold rating in a research note on Friday, January 4th. Finally, TheStreet upgraded MidWestOne Financial Group from a c+ rating to a b- rating in a research note on Friday, March 1st.

NASDAQ MOFG opened at $29.21 on Thursday. The firm has a market cap of $352.72 million, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. MidWestOne Financial Group has a one year low of $23.80 and a one year high of $35.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.03). The business had revenue of $32.37 million for the quarter, compared to the consensus estimate of $32.59 million. MidWestOne Financial Group had a return on equity of 9.04% and a net margin of 20.02%. As a group, sell-side analysts forecast that MidWestOne Financial Group will post 3.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a $0.203 dividend. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.20. This represents a $0.81 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Wednesday, February 27th. MidWestOne Financial Group’s payout ratio is currently 31.89%.

A number of institutional investors have recently made changes to their positions in MOFG. M3F Inc. bought a new stake in MidWestOne Financial Group in the 4th quarter valued at about $704,000. Dimensional Fund Advisors LP raised its stake in MidWestOne Financial Group by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock valued at $9,540,000 after acquiring an additional 27,446 shares during the period. Bank of New York Mellon Corp raised its stake in MidWestOne Financial Group by 27.6% in the 4th quarter. Bank of New York Mellon Corp now owns 84,555 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 18,265 shares during the period. BlackRock Inc. raised its stake in MidWestOne Financial Group by 3.0% in the 4th quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock valued at $14,676,000 after acquiring an additional 17,183 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in MidWestOne Financial Group by 5.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock valued at $6,850,000 after acquiring an additional 14,489 shares during the period. Institutional investors and hedge funds own 45.64% of the company’s stock.

MidWestOne Financial Group Company Profile

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, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.

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