MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Receives $24.13 Consensus PT from Analysts

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) have received a consensus rating of "Hold" from the four ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $24.13.

Several analysts recently weighed in on MOFG shares. Piper Sandler decreased their price target on MidWestOne Financial Group from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday. Hovde Group decreased their price objective on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a "market perform" rating for the company in a research note on Friday. Keefe, Bruyette & Woods cut their target price on MidWestOne Financial Group from $28.00 to $27.00 and set a "market perform" rating on the stock in a research note on Friday, April 5th. Finally, StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Friday, January 19th.

MidWestOne Financial Group Trading Down 2.2 %

NASDAQ MOFG traded down $0.46 during trading hours on Tuesday, hitting $20.17. 45,382 shares of the company were exchanged, compared to its average volume of 31,593. The stock has a market cap of $317.68 million, a PE ratio of 14.01 and a beta of 0.95. MidWestOne Financial Group has a 52 week low of $17.80 and a 52 week high of $27.78. The stock has a 50-day moving average price of $22.00 and a 200 day moving average price of $23.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, June 3rd. MidWestOne Financial Group's dividend payout ratio is presently 67.36%.

Insider Buying and Selling

In other news, CEO Charles N. Reeves bought 4,447 shares of the firm's 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 transaction, the chief executive officer now directly owns 38,346 shares in the company, valued at approximately $862,401.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOFG. BNP Paribas Financial Markets lifted its holdings in MidWestOne Financial Group by 24.8% during the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider's stock worth $370,000 after buying an additional 2,728 shares during the period. Bailard Inc. purchased a new stake in shares of MidWestOne Financial Group during the 4th quarter worth $346,000. Sippican Capital Advisors bought a new stake in MidWestOne Financial Group during the fourth quarter valued at about $590,000. SG Americas Securities LLC grew its stake in MidWestOne Financial Group by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider's stock valued at $217,000 after purchasing an additional 1,727 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV bought a new position in MidWestOne Financial Group in the fourth quarter worth about $242,000. 65.42% of the stock is currently owned by institutional investors.

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.