MidWestOne Financial Group (NASDAQ:MOFG) Stock Price Crosses Above 200-Day Moving Average of $30.59

MidWestOne Financial Group, Inc. (NASDAQ:MOFGGet Rating)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.59 and traded as high as $34.56. MidWestOne Financial Group shares last traded at $34.39, with a volume of 14,892 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. DA Davidson boosted their price target on shares of MidWestOne Financial Group to $34.00 in a research note on Tuesday, November 1st. Piper Sandler boosted their price target on shares of MidWestOne Financial Group to $35.00 in a research note on Tuesday, November 1st. Stephens boosted their price objective on MidWestOne Financial Group to $36.00 in a research report on Tuesday, August 23rd. Finally, StockNews.com downgraded MidWestOne Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 8th.

MidWestOne Financial Group Stock Performance

The firm has a market capitalization of $537.17 million, a price-to-earnings ratio of 9.15 and a beta of 0.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $30.99 and a 200 day moving average price of $30.59.

MidWestOne Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.2375 per share. The ex-dividend date is Wednesday, November 30th. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.24. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.76%. MidWestOne Financial Group’s payout ratio is currently 25.27%.

Hedge Funds Weigh In On MidWestOne Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its holdings in MidWestOne Financial Group by 64.8% in the second quarter. Captrust Financial Advisors now owns 860 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 338 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of MidWestOne Financial Group by 93.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,404 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 679 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of MidWestOne Financial Group by 36.6% in the third quarter. Great West Life Assurance Co. Can now owns 1,534 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 411 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of MidWestOne Financial Group by 170.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,733 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,092 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of MidWestOne Financial Group in the first quarter valued at approximately $57,000. 69.90% of the stock is owned by institutional investors and hedge funds.

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.

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