Analysts Set MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Price Target at $24.13

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has been given an average rating of “Hold” by the four analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.13.

Several equities analysts have commented on the stock. Hovde Group lowered 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 report on Friday, April 26th. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Piper Sandler cut their price target on MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods decreased their price target on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating for the company in a report on Friday, April 5th.

MidWestOne Financial Group Trading Down 0.5 %

Shares of MidWestOne Financial Group stock opened at $21.35 on Tuesday. 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 quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $336.26 million, a price-to-earnings ratio of 14.83 and a beta of 0.97. The stock has a 50 day moving average of $21.89 and a 200 day moving average of $22.99.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Monday, June 3rd. MidWestOne Financial Group’s dividend payout ratio is currently 67.36%.

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves bought 4,447 shares of the business’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $22.49 per share, for a total transaction of $100,013.03. Following the completion of the transaction, the chief executive officer now owns 38,346 shares in the company, valued at approximately $862,401.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 6,447 shares of company stock worth $142,093 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of institutional investors have recently modified their holdings of the company. Sippican Capital Advisors increased its stake in shares of MidWestOne Financial Group by 88.9% during the 1st quarter. Sippican Capital Advisors now owns 41,430 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 19,495 shares during the last quarter. BNP Paribas Financial Markets raised 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 purchasing an additional 2,728 shares during the period. Bailard Inc. acquired a new position in shares of MidWestOne Financial Group in the 4th quarter valued at $346,000. SG Americas Securities LLC boosted its holdings in shares of MidWestOne Financial Group by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 1,727 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV purchased a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at $242,000. Institutional investors and hedge funds 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.