MidWestOne Financial Group (NASDAQ:MOFG) Upgraded by StockNews.com to Hold Rating

MidWestOne Financial Group (NASDAQ:MOFG) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other brokerages also recently weighed in on MOFG. Hovde Group increased their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research note on Monday. Piper Sandler cut their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th.

MidWestOne Financial Group Trading Up 3.5 %

MOFG traded up $1.07 on Monday, hitting $32.06. The company had a trading volume of 170,859 shares, compared to its average volume of 108,997. The business’s fifty day simple moving average is $30.89 and its 200 day simple moving average is $29.28. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group has a 12-month low of $19.43 and a 12-month high of $34.56. The company has a market cap of $666.05 million, a PE ratio of -6.87 and a beta of 1.05.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 5.13% and a net margin of 9.79%. Equities research analysts expect that MidWestOne Financial Group will post 2.3 EPS for the current year.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOFG. Jennison Associates LLC grew its stake in MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider’s stock worth $24,042,000 after acquiring an additional 47,979 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of MidWestOne Financial Group by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 2,014 shares during the period. Apella Capital LLC bought a new position in MidWestOne Financial Group in the fourth quarter worth approximately $268,000. Assenagon Asset Management S.A. purchased a new position in MidWestOne Financial Group during the 4th quarter worth $1,776,000. Finally, JPMorgan Chase & Co. increased its holdings in MidWestOne Financial Group by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider’s stock worth $1,239,000 after purchasing an additional 15,351 shares during the period. Institutional investors own 65.42% 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, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.