MidWestOne Financial Group (NASDAQ:MOFG) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of MidWestOne Financial Group (NASDAQ:MOFG) in a report issued on Monday, Benzinga reports. The brokerage currently has a $28.00 price objective on the financial services provider’s stock, up from their previous price objective of $25.00.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler increased their price objective on MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a neutral rating in a report on Monday. Hovde Group cut their price target on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a market perform rating on the stock in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $26.38.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ:MOFG opened at $29.31 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $23.07 and a 200-day moving average price of $22.84. The company has a market cap of $461.78 million, a price-to-earnings ratio of 20.35 and a beta of 1.03. MidWestOne Financial Group has a 12 month low of $19.19 and a 12 month high of $30.00.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, September 3rd. MidWestOne Financial Group’s payout ratio is presently 67.36%.

Insider Activity at MidWestOne Financial Group

In other MidWestOne Financial Group news, Director Charles N. Funk sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $21.54, for a total transaction of $107,700.00. Following the completion of the transaction, the director now owns 6,672 shares of the company’s stock, valued at $143,714.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Charles N. Funk sold 3,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 14,329 shares of the company’s stock, valued at approximately $306,640.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles N. Funk sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $21.54, for a total value of $107,700.00. Following the transaction, the director now directly owns 6,672 shares of the company’s stock, valued at approximately $143,714.88. The disclosure for this sale can be found here. Insiders have sold 9,351 shares of company stock worth $200,267 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MidWestOne Financial Group

Several hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. purchased a new position in shares of MidWestOne Financial Group in the 4th quarter worth about $346,000. SG Americas Securities LLC raised its holdings 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 worth $217,000 after buying an additional 1,727 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 worth $370,000 after buying an additional 2,728 shares in the last quarter. Sippican Capital Advisors purchased a new stake in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $590,000. Finally, Empowered Funds LLC increased its position in shares of MidWestOne Financial Group by 8.2% during the first quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider’s stock valued at $1,247,000 after acquiring an additional 4,015 shares in the last quarter. 65.42% of the stock is owned by institutional investors.

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.