MidWestOne Financial Group’s (MOFG) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of MidWestOne Financial Group (NASDAQ:MOFG) in a report released on Monday, Benzinga reports. They currently have a $28.00 price objective on the financial services provider’s stock, up from their prior price objective of $25.00.

Other equities research analysts have also recently issued reports about the company. Hovde Group decreased their price objective on MidWestOne Financial Group from $23.50 to $21.50 and set a market perform rating for the company in a research note on Friday, April 26th. Piper Sandler boosted their target price on MidWestOne Financial Group from $22.00 to $30.00 and gave the company a neutral rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $26.38.

MidWestOne Financial Group Stock Down 3.0 %

Shares of MidWestOne Financial Group stock opened at $28.43 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.23. MidWestOne Financial Group has a 12 month low of $19.19 and a 12 month high of $30.00. The business has a fifty day simple moving average of $23.21 and a 200 day simple moving average of $22.88. The stock has a market cap of $448.06 million, a PE ratio of 19.74 and a beta of 1.03.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.243 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.42%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 67.36%.

Insider Activity

In related news, Director Charles N. Funk sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $21.54, for a total transaction of $107,700.00. Following the sale, the director now owns 6,672 shares in the company, valued at $143,714.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Charles N. Funk sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $21.54, for a total transaction of $107,700.00. Following the sale, the director now owns 6,672 shares in the company, valued at $143,714.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles N. Funk sold 3,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $21.40, for a total value of $64,200.00. Following the sale, the director now owns 14,329 shares in the company, valued at approximately $306,640.60. The disclosure for this sale can be found here. Insiders have sold a total of 9,008 shares of company stock worth $192,927 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Bailard Inc. bought a new stake in MidWestOne Financial Group in the fourth quarter valued at approximately $346,000. SG Americas Securities LLC raised its stake in MidWestOne Financial Group by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider’s stock valued at $217,000 after buying an additional 1,727 shares during the period. BNP Paribas Financial Markets raised its stake in MidWestOne Financial Group by 24.8% in the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after buying an additional 2,728 shares during the period. Sippican Capital Advisors bought a new stake in MidWestOne Financial Group in the fourth quarter valued at approximately $590,000. Finally, Empowered Funds LLC grew its position in shares of MidWestOne Financial Group by 8.2% in the first quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 4,015 shares during the last quarter. Institutional investors own 65.42% of the company’s stock.

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.