MidWestOne Financial Group (NASDAQ:MOFG) Share Price Crosses Above 200 Day Moving Average - What's Next?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.21 and traded as high as $30.69. MidWestOne Financial Group shares last traded at $30.67, with a volume of 223,785 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler reduced their price target on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Monday, April 28th.

MidWestOne Financial Group Trading Down 0.3%

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The company has a market cap of $624.29 million, a P/E ratio of -8.48 and a beta of 1.00. The firm's 50 day moving average is $29.05 and its two-hundred day moving average is $29.23.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The business had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. As a group, equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.2425 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.23%. MidWestOne Financial Group's payout ratio is currently -27.40%.

Institutional Investors Weigh In On MidWestOne Financial Group

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew 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 in the last quarter. Stifel Financial Corp grew its position in shares of MidWestOne Financial Group by 0.5% during the 4th quarter. Stifel Financial Corp now owns 67,439 shares of the financial services provider's stock valued at $1,964,000 after purchasing an additional 345 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 541 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of MidWestOne Financial Group by 8.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,382 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 841 shares in the last quarter. Finally, Corebridge Financial Inc. grew its position in shares of MidWestOne Financial Group by 18.8% during the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 1,462 shares in the last quarter. Hedge funds and other institutional investors 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.