Piper Sandler Boosts MidWestOne Financial Group (NASDAQ:MOFG) Price Target to $30.00

MidWestOne Financial Group (NASDAQ:MOFG) had its price target hoisted by Piper Sandler from $22.00 to $30.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts have also commented on MOFG. Keefe, Bruyette & Woods lowered 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. Hovde Group lowered their target price on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a market perform rating on the stock in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, MidWestOne Financial Group currently has an average rating of Hold and an average target price of $26.38.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock opened at $28.43 on Monday. MidWestOne Financial Group has a 12-month low of $19.19 and a 12-month high of $30.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $448.06 million, a price-to-earnings ratio of 19.74 and a beta of 1.03. The business has a 50 day simple moving average of $23.21 and a 200 day simple moving average of $22.88.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.243 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.97 annualized dividend and a yield of 3.42%. MidWestOne Financial Group’s dividend payout ratio is currently 67.36%.

Insiders Place Their Bets

In other news, Director Charles N. Funk sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $21.54, for a total transaction of $107,700.00. Following the completion of the transaction, the director now owns 6,672 shares in the company, valued at approximately $143,714.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MidWestOne Financial Group news, Director Charles N. Funk sold 5,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $21.54, for a total value of $107,700.00. Following the transaction, the director now owns 6,672 shares of the company’s stock, valued at $143,714.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles N. Funk sold 3,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $21.40, for a total value of $64,200.00. Following the sale, the director now owns 14,329 shares of the company’s stock, valued at approximately $306,640.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,008 shares of company stock worth $192,927. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in shares of MidWestOne Financial Group by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider’s stock worth $217,000 after buying an additional 1,727 shares during the period. Bailard Inc. acquired a new stake in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $346,000. BNP Paribas Financial Markets lifted its position in shares of MidWestOne Financial Group by 24.8% in the 4th quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 2,728 shares in the last quarter. Rhumbline Advisers boosted its stake in MidWestOne Financial Group by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 653 shares during the period. Finally, Sippican Capital Advisors purchased a new position in MidWestOne Financial Group during the 4th quarter worth approximately $590,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Company Profile

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.