Analysts Set $38.00 Target Price for MidWestOne Financial Group, Inc. (MOFG)
MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has been given an average broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a one year consensus price target of $38.00 for the company and are forecasting that the company will post $0.64 EPS for the current quarter, according to Zacks. Zacks has also given MidWestOne Financial Group an industry rank of 3 out of 265 based on the ratings given to related companies.
MOFG has been the subject of several analyst reports. Zacks Investment Research cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. BidaskClub cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $39.00 target price on shares of MidWestOne Financial Group in a research note on Friday.
MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.11). MidWestOne Financial Group had a net margin of 17.35% and a return on equity of 7.38%. equities analysts forecast that MidWestOne Financial Group will post 2.36 earnings per share for the current year.
In related news, Director Kurt R. Weise sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $35.21, for a total value of $35,210.00. Following the completion of the transaction, the director now directly owns 2,275 shares in the company, valued at approximately $80,102.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 25.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC lifted its stake in shares of MidWestOne Financial Group by 133.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 1,145 shares during the period. Brandywine Global Investment Management LLC acquired a new position in MidWestOne Financial Group during the second quarter worth $133,000. SG Americas Securities LLC acquired a new position in MidWestOne Financial Group during the third quarter worth $181,000. Alliancebernstein L.P. acquired a new position in MidWestOne Financial Group during the second quarter worth $217,000. Finally, Citadel Advisors LLC acquired a new position in MidWestOne Financial Group during the third quarter worth $268,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.
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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