Piper Sandler Cuts MidWestOne Financial Group (NASDAQ:MOFG) Price Target to $33.00

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) had its target price dropped by equities researchers at Piper Sandler from $34.50 to $33.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price suggests a potential upside of 15.34% from the stock's current price.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Finally, Hovde Group raised their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a research report on Monday, January 27th.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock traded up $0.59 on Monday, hitting $28.61. 52,139 shares of the stock traded hands, compared to its average volume of 83,370. The company has a market capitalization of $595.55 million, a PE ratio of -7.05 and a beta of 0.88. The company's fifty day moving average is $28.34 and its 200 day moving average is $30.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. MidWestOne Financial Group has a 1-year low of $20.04 and a 1-year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, meeting analysts' consensus estimates of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The business had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. On average, equities research analysts predict that MidWestOne Financial Group will post 3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now owns 53,621 shares of the company's stock, valued at $1,500,315.58. This represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of MidWestOne Financial Group

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in MidWestOne Financial Group by 32.5% in the 4th quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider's stock valued at $41,000 after buying an additional 343 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of MidWestOne Financial Group by 38.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock worth $57,000 after acquiring an additional 541 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of MidWestOne Financial Group by 44.8% in the first quarter. New York State Common Retirement Fund now owns 5,820 shares of the financial services provider's stock worth $172,000 after acquiring an additional 1,800 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of MidWestOne Financial Group during the fourth quarter worth $211,000. Finally, Polymer Capital Management US LLC purchased a new position in MidWestOne Financial Group in the fourth quarter valued at about $222,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.