MidWestOne Financial Group (NASDAQ:MOFG) Cut to Hold at StockNews.com

MidWestOne Financial Group (NASDAQ:MOFG – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

NASDAQ MOFG traded up $0.88 during trading hours on Monday, reaching $29.54. 36,956 shares of the company’s stock were exchanged, compared to its average volume of 31,525. The company has a market capitalization of $463.19 million, a price-to-earnings ratio of 7.57 and a beta of 0.97. MidWestOne Financial Group has a one year low of $27.08 and a one year high of $34.65. The company’s 50-day moving average is $31.18 and its two-hundred day moving average is $31.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 0.62.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Denali Advisors LLC acquired a new stake in shares of MidWestOne Financial Group in the 4th quarter valued at approximately $26,000. Lazard Asset Management LLC acquired a new stake in MidWestOne Financial Group during the 4th quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MidWestOne Financial Group during the 4th quarter valued at $50,000. Great West Life Assurance Co. Can lifted its holdings in 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 acquired a new stake in MidWestOne Financial Group during the 1st quarter valued at $101,000. 65.04% of the stock is owned by institutional investors.

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.

Featured Stories

• Get a free copy of the StockNews.com research report on MidWestOne Financial Group (MOFG)
• Stock Market Downgrades Are Dragging The S&P 500 Lower 
• Under Armor Stock is Getting Undervalued
• Time to Ring the Register on Funko Stock
• Palo Alto Networks Bottoms But A Rebound May Not Be Coming 
• The Institutions Go Long Saia, Inc In Q2 

Want More Great Investing Ideas?