MidWestOne Financial Group (NASDAQ:MOFG) Share Price Crosses Above 200-Day Moving Average of $23.42

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.42 and traded as high as $28.18. MidWestOne Financial Group shares last traded at $28.11, with a volume of 25,599 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MOFG. Piper Sandler increased their price objective on MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.38.

MidWestOne Financial Group Trading Up 0.6 %

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $27.09 and its 200-day moving average is $23.51. The stock has a market capitalization of $437.04 million, a PE ratio of 19.26 and a beta of 1.02.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. The firm had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $45.75 million. As a group, analysts anticipate that MidWestOne Financial Group, Inc. will post 2.16 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. Investors of record on Tuesday, September 3rd will be given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Institutional Investors Weigh In On MidWestOne Financial Group

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of MidWestOne Financial Group by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock valued at $14,796,000 after acquiring an additional 15,512 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 2,728 shares in the last quarter. Sippican Capital Advisors boosted its position in shares of MidWestOne Financial Group by 88.9% in the first quarter. Sippican Capital Advisors now owns 41,430 shares of the financial services provider’s stock worth $971,000 after buying an additional 19,495 shares during the period. Empowered Funds LLC grew its stake 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 buying an additional 4,015 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of MidWestOne Financial Group during the 2nd quarter valued at about $247,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

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.