Analysts Set MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Target Price at $26.38

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) have earned an average recommendation of “Hold” from the four research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.38.

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $28.00 price objective (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Piper Sandler raised their price target on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 29th.

Institutional Trading of MidWestOne Financial Group

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of MidWestOne Financial Group during the 2nd quarter worth approximately $247,000. BNP Paribas Financial Markets boosted its stake 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 worth $370,000 after buying an additional 2,728 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in MidWestOne Financial Group in the 2nd quarter valued at $329,000. Bank of Montreal Can purchased a new stake in MidWestOne Financial Group in the 2nd quarter valued at $388,000. Finally, Rhumbline Advisers increased its stake in shares of MidWestOne Financial Group by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 653 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Price Performance

NASDAQ:MOFG opened at $28.94 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. MidWestOne Financial Group has a 52 week low of $19.19 and a 52 week high of $30.15. The stock’s 50-day moving average price is $26.23 and its 200-day moving average price is $23.28. The stock has a market capitalization of $455.95 million, a PE ratio of 20.08 and a beta of 1.03.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 5.27%. The business had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $45.75 million. As a group, equities analysts expect that MidWestOne Financial Group will post 2.14 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is 67.36%.

About MidWestOne Financial Group

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.