MidWestOne Financial Group (NASDAQ:MOFG) Price Target Lowered to $22.00 at Piper Sandler

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) had its price target decreased by Piper Sandler from $24.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price suggests a potential upside of 6.64% from the company's previous close.

A number of other brokerages have also commented on MOFG. Hovde Group dropped their price objective on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a "market perform" rating on the stock in a report on Friday. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods cut their price target on MidWestOne Financial Group from $28.00 to $27.00 and set a "market perform" rating on the stock in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $24.13.

MidWestOne Financial Group Stock Up 1.1 %

Shares of NASDAQ MOFG traded up $0.22 during mid-day trading on Monday, reaching $20.63. 34,551 shares of the company's stock were exchanged, compared to its average volume of 31,425. MidWestOne Financial Group has a twelve month low of $17.80 and a twelve month high of $27.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $324.92 million, a price-to-earnings ratio of 14.33 and a beta of 0.95. The business has a fifty day simple moving average of $22.13 and a 200 day simple moving average of $23.00.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. MidWestOne Financial Group had a net margin of 7.78% and a return on equity of 5.52%. The firm had revenue of $36.42 million for the quarter, compared to the consensus estimate of $43.40 million. As a group, equities analysts expect that MidWestOne Financial Group will post 2.17 EPS for the current fiscal year.

Insider Activity at MidWestOne Financial Group

In other news, CEO Charles N. Reeves bought 4,447 shares of the firm's stock in a transaction that occurred 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 purchase, the chief executive officer now owns 38,346 shares of the company's stock, valued at $862,401.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of MOFG. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group in the third quarter valued at approximately $129,000. Trexquant Investment LP raised its stake in MidWestOne Financial Group by 47.0% in the 3rd quarter. Trexquant Investment LP now owns 31,048 shares of the financial services provider's stock valued at $631,000 after acquiring an additional 9,929 shares during the period. Swiss National Bank lifted its holdings in MidWestOne Financial Group by 2.5% during the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MidWestOne Financial Group by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider's stock worth $1,918,000 after purchasing an additional 591 shares during the period. Finally, Investment Advisory Services Inc. TX ADV acquired a new position in shares of MidWestOne Financial Group in the fourth quarter valued at $242,000. 65.42% of the stock is 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.