MidWestOne Financial Group (NASDAQ:MOFG) PT Lowered to $27.00

MidWestOne Financial Group (NASDAQ:MOFG) had its price target decreased by stock analysts at Keefe, Bruyette & Woods from $28.00 to $27.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 24.77% from the company’s previous close.

Several other research firms have also weighed in on MOFG. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Piper Sandler started coverage on shares of MidWestOne Financial Group in a report on Wednesday, March 13th. They set a “neutral” rating and a $24.00 target price for the company. Hovde Group started coverage on shares of MidWestOne Financial Group in a report on Monday, March 4th. They set a “market perform” rating for the company. Finally, TheStreet raised shares of MidWestOne Financial Group from a “c+” rating to a “b-” rating in a report on Monday, December 11th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.67.

MidWestOne Financial Group Stock Down 3.8 %

MidWestOne Financial Group stock opened at $21.64 on Friday. The firm has a market capitalization of $340.83 million, a PE ratio of 16.39 and a beta of 0.95. The company’s 50-day moving average is $23.18 and its 200-day moving average is $22.93. MidWestOne Financial Group has a fifty-two week low of $17.80 and a fifty-two week high of $27.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.73 and a quick ratio of 0.73.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $36.42 million for the quarter, compared to analyst estimates of $43.40 million. MidWestOne Financial Group had a net margin of 7.78% and a return on equity of 7.12%. Sell-side analysts anticipate that MidWestOne Financial Group will post 2.17 earnings per share for the current year.

Insider Buying and Selling at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 4,447 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $22.49 per share, with a total value of $100,013.03. Following the acquisition, the chief executive officer now directly owns 38,346 shares of the company’s stock, valued at approximately $862,401.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of MidWestOne Financial Group by 3.9% during the 2nd quarter. BlackRock Inc. now owns 1,273,394 shares of the financial services provider’s stock worth $27,212,000 after acquiring an additional 47,386 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MidWestOne Financial Group by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 681,971 shares of the financial services provider’s stock worth $16,653,000 after acquiring an additional 25,321 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MidWestOne Financial Group by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 615,718 shares of the financial services provider’s stock worth $16,569,000 after acquiring an additional 30,907 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of MidWestOne Financial Group by 33.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 469,031 shares of the financial services provider’s stock worth $15,525,000 after acquiring an additional 118,547 shares during the period. Finally, State Street Corp lifted its holdings in shares of MidWestOne Financial Group by 3.4% during the 2nd quarter. State Street Corp now owns 341,263 shares of the financial services provider’s stock worth $7,293,000 after acquiring an additional 11,326 shares during the period. Institutional investors own 65.42% of the company’s stock.

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.