MidWestOne Financial Group (NASDAQ:MOFG) Price Target Raised to $34.00

MidWestOne Financial Group (NASDAQ:MOFG) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $31.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 3.82% from the stock’s current price.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Piper Sandler reduced their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

MidWestOne Financial Group Stock Performance

NASDAQ:MOFG traded down $0.05 during midday trading on Wednesday, reaching $32.75. The stock had a trading volume of 56,479 shares, compared to its average volume of 50,218. MidWestOne Financial Group has a 1-year low of $19.43 and a 1-year high of $34.56. The firm’s fifty day simple moving average is $30.13 and its 200-day simple moving average is $26.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The stock has a market capitalization of $680.22 million, a P/E ratio of -7.04 and a beta of 1.03.

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 7,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. This represents a 18.08 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew J. Hayek purchased 2,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director now owns 11,293 shares of the company’s stock, valued at approximately $282,325. This represents a 21.52 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 9,400 shares of company stock worth $235,000 in the last quarter. 3.20% of the stock is owned by company insiders.

Institutional Trading of MidWestOne Financial Group

A number of institutional investors have recently made changes to their positions in MOFG. SG Americas Securities LLC bought a new stake in shares of MidWestOne Financial Group in the third quarter worth $163,000. Renaissance Technologies LLC acquired a new position in MidWestOne Financial Group during the second quarter worth $247,000. Virtu Financial LLC acquired a new position in shares of MidWestOne Financial Group in the third quarter valued at $261,000. Hsbc Holdings PLC acquired a new position in shares of MidWestOne Financial Group in the second quarter valued at $329,000. Finally, Quadrature Capital Ltd acquired a new position in shares of MidWestOne Financial Group in the third quarter valued at $353,000. 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.