Keefe, Bruyette & Woods Cuts MidWestOne Financial Group (NASDAQ:MOFG) Price Target to $27.00

MidWestOne Financial Group (NASDAQ:MOFG - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $28.00 to $27.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

Several other analysts also recently issued reports on MOFG. Piper Sandler initiated coverage on MidWestOne Financial Group in a research note on Wednesday, March 13th. They issued a neutral rating and a $24.00 price target on the stock. StockNews.com raised MidWestOne Financial Group from a sell rating to a hold rating in a research note on Friday, January 19th. Hovde Group initiated coverage on MidWestOne Financial Group in a research note on Monday, March 4th. They issued a market perform rating on the stock. Finally, TheStreet raised MidWestOne Financial Group from a c+ rating to a b- rating in a research note on Monday, December 11th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, MidWestOne Financial Group currently has a consensus rating of Hold and an average price target of $25.67.

MidWestOne Financial Group Trading Down 3.8 %

NASDAQ:MOFG traded down $0.86 during trading hours on Friday, hitting $21.64. 23,598 shares of the stock were exchanged, compared to its average volume of 30,867. The company's 50 day moving average is $23.18 and its two-hundred day moving average is $22.91. MidWestOne Financial Group has a twelve month low of $17.80 and a twelve month high of $27.78. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $340.83 million, a P/E ratio of 16.39 and a beta of 0.95.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. MidWestOne Financial Group had a return on equity of 7.12% and a net margin of 7.78%. The business had revenue of $36.42 million for the quarter, compared to analyst estimates of $43.40 million. On average, sell-side analysts anticipate that MidWestOne Financial Group will post 2.17 earnings per share for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On MidWestOne Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors boosted its holdings in shares of MidWestOne Financial Group by 64.8% during the second quarter. Captrust Financial Advisors now owns 860 shares of the financial services provider's stock worth $26,000 after acquiring an additional 338 shares during the period. Lazard Asset Management LLC boosted its holdings 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 during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $29,000. FMR LLC raised its position in MidWestOne Financial Group by 249.1% during the first quarter. FMR LLC now owns 1,288 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 919 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in MidWestOne Financial Group by 170.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,733 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,092 shares in the last quarter. 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.