MidWestOne Financial Group Inc (New) (NASDAQ: MOFG) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Sunday.
MidWestOne Financial Group, Inc. (MidWestOne) is a bank holding company. The Company operates through its bank subsidiary MidWestOne Bank. MidWestOne Bank provides full service retail banking in the communities in which its branch offices are located. It operates a total of 29 branch locations, plus its Home Loan Center, in 15 counties throughout central and east-central Iowa. On March 14, 2008, the Company consummated its merger with the former MidWestOne Financial Group, Inc. (Former MidWestOne). In August 2008, the Company consolidated its three bank subsidiaries, Iowa State Bank & Trust Company, First State Bank and MidWestOne Bank, and renamed the surviving bank MidWestOne Bank. The operations of MidWestOne Investment Services also were transferred to MidWestOne Bank and MidWestOne Investment Services was dissolved; the brokerage and financial planning services previously offered by MidWestOne Investment Services are offered through MidWestOne Bank.
MidWestOne Financial Group Inc (New) opened at 15.75 on Friday. MidWestOne Financial Group Inc (New) has a 1-year low of $12.20 and a 1-year high of $15.75. The stock has a 50-day moving average of $14.72 and a 200-day moving average of $14.60. The company has a market cap of $135.0 million and a price-to-earnings ratio of 11.50.