MidWestOne Financial Group (NASDAQ:MOFG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.02 and traded as high as $30.23. MidWestOne Financial Group shares last traded at $29.29, with a volume of 104,787 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MOFG shares. Piper Sandler dropped their target price on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $39.00 in a report on Tuesday, December 17th.

MidWestOne Financial Group Trading Down 1.4 %

The company has a fifty day moving average price of $31.38 and a 200-day moving average price of $28.13. The firm has a market capitalization of $608.50 million, a price-to-earnings ratio of -6.27 and a beta of 1.03. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is -20.77%.

Insider Transactions at MidWestOne Financial Group

In related news, Director Matthew J. Hayek purchased 2,000 shares of the stock in a transaction on Monday, September 30th. The shares were bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. This trade represents a 21.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles N. Reeves acquired 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was 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 directly owns 45,712 shares of the company’s stock, valued at $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,400 shares of company stock worth $235,000 in the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MidWestOne Financial Group Inc. boosted its holdings in MidWestOne Financial Group by 1.0% during the second quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock valued at $94,397,000 after acquiring an additional 43,172 shares during the period. Wellington Management Group LLP grew its holdings in MidWestOne Financial Group by 318.0% in the 3rd quarter. Wellington Management Group LLP now owns 800,334 shares of the financial services provider’s stock valued at $22,834,000 after buying an additional 608,883 shares during the last quarter. Jennison Associates LLC acquired a new stake in MidWestOne Financial Group in the 3rd quarter valued at approximately $22,186,000. Dimensional Fund Advisors LP increased its position in MidWestOne Financial Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock worth $15,901,000 after buying an additional 25,767 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of MidWestOne Financial Group by 3.0% during the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider’s stock worth $9,579,000 after buying an additional 9,787 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.