MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Given Average Recommendation of “Hold” by Brokerages

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have been given an average rating of “Hold” by the four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.13.

MOFG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their target price on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. StockNews.com raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Hovde Group reduced their target price on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating for the company in a report on Friday. Finally, Piper Sandler lowered their price target on shares of MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 4,447 shares of the stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $22.49 per share, with a total value of $100,013.03. Following the completion of the acquisition, the chief executive officer now owns 38,346 shares of the company’s stock, valued at $862,401.54. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group in the 3rd quarter worth approximately $129,000. Investment Advisory Services Inc. TX ADV bought a new stake in MidWestOne Financial Group in the fourth quarter worth $242,000. Bailard Inc. purchased a new stake in MidWestOne Financial Group during the fourth quarter valued at $346,000. BNP Paribas Financial Markets lifted its position in MidWestOne Financial Group by 24.8% during the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 2,728 shares during the last quarter. Finally, Strs Ohio lifted its position in MidWestOne Financial Group by 10.0% during the third quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 2,100 shares during the last quarter. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Stock Up 1.1 %

Shares of MOFG stock opened at $20.63 on Tuesday. The company has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $23.00. The stock has a market cap of $324.92 million, a P/E ratio of 14.33 and a beta of 0.95. MidWestOne Financial Group has a 12 month low of $17.80 and a 12 month high of $27.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.24.

MidWestOne Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.243 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 4.71%. MidWestOne Financial Group’s dividend payout ratio is presently 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.