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

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $39.00 to $38.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 34.54% from the stock's previous close.

Several other equities analysts have also issued reports on the stock. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th. Hovde Group upped 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 Trading Up 0.0 %

Shares of MOFG traded up $0.01 during mid-day trading on Monday, reaching $28.25. 20,395 shares of the company were exchanged, compared to its average volume of 82,243. The business has a 50 day simple moving average of $28.64 and a two-hundred day simple moving average of $30.10. 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 capitalization of $587.95 million, a PE ratio of -6.96 and a beta of 0.88. MidWestOne Financial Group has a 52 week low of $20.01 and a 52 week high of $34.56.

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

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 1,785 shares of the business's stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the purchase, the chief executive officer now owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MOFG. Wellington Management Group LLP grew its holdings in MidWestOne Financial Group by 30.8% during the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock worth $30,473,000 after buying an additional 246,117 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MidWestOne Financial Group by 21.5% in the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after purchasing an additional 158,899 shares during the last quarter. Jennison Associates LLC lifted its position in shares of MidWestOne Financial Group by 6.2% during the fourth quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock valued at $24,042,000 after purchasing an additional 47,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MidWestOne Financial Group by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock worth $23,273,000 after purchasing an additional 70,059 shares during the last quarter. Finally, FJ Capital Management LLC grew its position in MidWestOne Financial Group by 0.9% in the 4th quarter. FJ Capital Management LLC now owns 608,497 shares of the financial services provider's stock worth $17,719,000 after purchasing an additional 5,622 shares in the last quarter. Institutional investors own 65.42% of the company's stock.

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.

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