Brokerages Set MidWestOne Financial Group, Inc. (NASDAQ:MOFG) PT at $24.13

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has earned an average rating of “Hold” from the four ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.13.

Several equities analysts have weighed in on the company. Hovde Group cut their target price on MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Keefe, Bruyette & Woods reduced their price objective on shares of MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Piper Sandler lowered their target price on shares of MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Finally, StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th.

Insider Buying and Selling

In other news, CEO Charles N. Reeves bought 4,447 shares of the stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $22.49 per share, for a total transaction of $100,013.03. Following the acquisition, the chief executive officer now owns 38,346 shares in the company, valued at $862,401.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 6,447 shares of company stock worth $142,093 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in MidWestOne Financial Group during the third quarter worth $129,000. Investment Advisory Services Inc. TX ADV bought a new stake in MidWestOne Financial Group during the 4th quarter worth about $242,000. Bailard Inc. acquired a new position in shares of MidWestOne Financial Group during the 4th quarter worth about $346,000. BNP Paribas Financial Markets grew its holdings in shares of MidWestOne Financial Group by 24.8% in the 4th quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 2,728 shares in the last quarter. Finally, Strs Ohio increased its position in shares of MidWestOne Financial Group by 10.0% in the third quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Performance

Shares of MidWestOne Financial Group stock opened at $21.26 on Tuesday. MidWestOne Financial Group has a 52 week low of $18.00 and a 52 week high of $27.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $334.85 million, a price-to-earnings ratio of 14.76 and a beta of 0.97. The firm has a fifty day moving average of $21.85 and a two-hundred day moving average of $23.02.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, June 3rd. MidWestOne Financial Group’s dividend payout ratio is 67.36%.

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.