MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 429,297 shares changed hands during trading, an increase of 348% from the previous session's volume of 95,753 shares.The stock last traded at $27.70 and had previously closed at $28.24.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on MOFG shares. Keefe, Bruyette & Woods lowered their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Piper Sandler decreased their target price on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a research report on Monday, April 28th.
Read Our Latest Report on MOFG
MidWestOne Financial Group Price Performance
The stock's 50 day moving average price is $28.56 and its two-hundred day moving average price is $29.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $599.41 million, a price-to-earnings ratio of -8.13 and a beta of 1.01.
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, meeting analysts' consensus estimates of $0.73. The firm had revenue of $57.58 million for the quarter, compared to the consensus estimate of $58.87 million. On average, equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.
MidWestOne Financial Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio (DPR) is currently -27.40%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of MOFG. Empowered Funds LLC increased its position in MidWestOne Financial Group by 8.4% during the first quarter. Empowered Funds LLC now owns 68,431 shares of the financial services provider's stock worth $2,026,000 after acquiring an additional 5,294 shares during the period. Goldman Sachs Group Inc. grew its position in MidWestOne Financial Group by 16.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider's stock worth $15,744,000 after purchasing an additional 76,368 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in MidWestOne Financial Group by 8.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,382 shares of the financial services provider's stock worth $337,000 after purchasing an additional 841 shares during the last quarter. EJF Capital LLC increased its holdings in shares of MidWestOne Financial Group by 6.9% during the 1st quarter. EJF Capital LLC now owns 115,207 shares of the financial services provider's stock worth $3,411,000 after purchasing an additional 7,429 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of MidWestOne Financial Group by 4.7% during the first quarter. Bridgeway Capital Management LLC now owns 117,691 shares of the financial services provider's stock valued at $3,485,000 after buying an additional 5,294 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.
About MidWestOne Financial Group
(
Get Free Report)
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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