MidWestOne Financial Group (NASDAQ:MOFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Several other research analysts also recently commented on the stock. BidaskClub raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. ValuEngine raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, TheStreet downgraded shares of MidWestOne Financial Group from a “b” rating to a “c+” rating in a research report on Thursday, November 15th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. MidWestOne Financial Group currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Shares of NASDAQ MOFG opened at $29.62 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. MidWestOne Financial Group has a 52 week low of $23.80 and a 52 week high of $35.20. The firm has a market capitalization of $356.21 million, a P/E ratio of 11.66, a PEG ratio of 1.16 and a beta of 1.07.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in MidWestOne Financial Group by 6.4% during the 2nd quarter. BlackRock Inc. now owns 565,800 shares of the financial services provider’s stock valued at $19,113,000 after purchasing an additional 34,126 shares during the period. Royce & Associates LP increased its position in MidWestOne Financial Group by 13.2% during the 3rd quarter. Royce & Associates LP now owns 829,970 shares of the financial services provider’s stock valued at $27,646,000 after purchasing an additional 96,546 shares during the period. Vanguard Group Inc increased its position in MidWestOne Financial Group by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 476,740 shares of the financial services provider’s stock valued at $15,880,000 after purchasing an additional 1,709 shares during the period. Great Lakes Advisors LLC purchased a new position in MidWestOne Financial Group during the 3rd quarter valued at $200,000. Finally, Renaissance Technologies LLC increased its position in MidWestOne Financial Group by 5.7% during the 3rd quarter. Renaissance Technologies LLC now owns 219,849 shares of the financial services provider’s stock valued at $7,323,000 after purchasing an additional 11,849 shares during the period. 46.18% of the stock is currently owned by institutional investors and hedge funds.

About MidWestOne Financial Group

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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