Keefe, Bruyette & Woods Lowers MidWestOne Financial Group (NASDAQ:MOFG) Price Target to $38.00

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) had its price objective reduced by investment analysts at Keefe, Bruyette & Woods from $39.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 32.82% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Hovde Group lifted their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th.

MidWestOne Financial Group Stock Performance

MOFG traded up $0.59 on Monday, reaching $28.61. The company had a trading volume of 52,139 shares, compared to its average volume of 83,370. 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 quick ratio of 0.77 and a current ratio of 0.78. The stock has a market cap of $595.55 million, a P/E ratio of -7.05 and a beta of 0.88. MidWestOne Financial Group has a fifty-two week low of $20.04 and a fifty-two week high of $34.56.

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

Insider Buying and Selling

In other news, CEO Charles N. Reeves bought 1,785 shares of the company's stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the transaction, the chief executive officer now owns 53,621 shares of the company's stock, valued at $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of MidWestOne Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of MOFG. California State Teachers Retirement System increased its position in MidWestOne Financial Group by 32.5% during 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 purchasing an additional 343 shares during the period. Summit Investment Advisors Inc. raised its stake in MidWestOne Financial Group by 38.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock worth $57,000 after buying an additional 541 shares during the last quarter. New York State Common Retirement Fund raised its stake in MidWestOne Financial Group by 44.8% during 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 buying an additional 1,800 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in MidWestOne Financial Group in the fourth quarter valued at $211,000. Finally, Polymer Capital Management US LLC bought a new stake in MidWestOne Financial Group during the fourth quarter valued at $222,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.