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

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

MOFG has been the topic of several other reports. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Piper Sandler decreased their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.00.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock traded down $0.05 on Wednesday, hitting $32.75. The company’s stock had a trading volume of 56,479 shares, compared to its average volume of 50,218. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The stock’s 50 day moving average is $30.13 and its 200-day moving average is $26.87. MidWestOne Financial Group has a fifty-two week low of $19.43 and a fifty-two week high of $34.56. The company has a market capitalization of $680.22 million, a PE ratio of -7.04 and a beta of 1.03.

Insider Buying and Selling

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

Institutional Investors Weigh In On MidWestOne Financial Group

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $163,000. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group during the 2nd quarter worth approximately $247,000. Virtu Financial LLC acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $261,000. Hsbc Holdings PLC acquired a new stake in MidWestOne Financial Group during the 2nd quarter worth approximately $329,000. Finally, Quadrature Capital Ltd acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $353,000. 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.