MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Receives $25.00 Consensus Target Price from Brokerages

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) has received a consensus recommendation of "Hold" from the four brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.67.

Several research firms have recently issued reports on MOFG. Hovde Group began coverage on MidWestOne Financial Group in a report on Monday, March 4th. They issued a "market perform" rating for the company. Piper Sandler began coverage on MidWestOne Financial Group in a report on Wednesday, March 13th. They issued a "neutral" rating and a $24.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on MidWestOne Financial Group from $28.00 to $27.00 and set a "market perform" rating for the company in a report on Friday. StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Friday, January 19th. Finally, TheStreet raised MidWestOne Financial Group from a "c+" rating to a "b-" rating in a report on Monday, December 11th.

Insider Buying and Selling at MidWestOne Financial Group

In other news, CEO Charles N. Reeves acquired 4,447 shares of MidWestOne Financial Group stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $22.49 per share, with a total value of $100,013.03. Following the completion of the acquisition, the chief executive officer now owns 38,346 shares in the company, valued at $862,401.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MidWestOne Financial Group

Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its position in shares of MidWestOne Financial Group by 1,590.0% during the fourth quarter. Lazard Asset Management LLC now owns 845 shares of the financial services provider's stock worth $26,000 after acquiring an additional 795 shares in the last quarter. Captrust Financial Advisors raised its position in shares of MidWestOne Financial Group by 64.8% in the second quarter. Captrust Financial Advisors now owns 860 shares of the financial services provider's stock worth $26,000 after buying an additional 338 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of MidWestOne Financial Group in the fourth quarter worth $29,000. FMR LLC raised its position in shares of MidWestOne Financial Group by 249.1% in the first quarter. FMR LLC now owns 1,288 shares of the financial services provider's stock worth $31,000 after buying an additional 919 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of MidWestOne Financial Group by 33.1% in the first quarter. Great West Life Assurance Co. Can now owns 1,587 shares of the financial services provider's stock worth $55,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Stock Down 3.8 %

MOFG traded down $0.86 during midday trading on Friday, reaching $21.64. 23,598 shares of the company were exchanged, compared to its average volume of 30,867. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. The company's fifty day moving average price is $23.18 and its 200 day moving average price is $22.91. The company has a market cap of $340.83 million, a price-to-earnings ratio of 16.39 and a beta of 0.95. MidWestOne Financial Group has a one year low of $17.80 and a one year high of $27.78.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The firm had revenue of $36.42 million during the quarter, compared to analyst estimates of $43.40 million. MidWestOne Financial Group had a return on equity of 7.12% and a net margin of 7.78%. As a group, analysts expect that MidWestOne Financial Group will post 2.17 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Thursday, February 29th. MidWestOne Financial Group's dividend payout ratio (DPR) is 73.48%.

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.