MidWestOne Financial Group (NASDAQ:MOFG) Shares Cross Above 200-Day Moving Average – Time to Sell?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.03 and traded as high as $49.69. MidWestOne Financial Group shares last traded at $49.31, with a volume of 576,261 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on MOFG shares. Keefe, Bruyette & Woods raised their price target on MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of MidWestOne Financial Group in a research note on Monday, December 29th. Finally, Stephens downgraded MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.50.

MidWestOne Financial Group Price Performance

The company has a 50 day moving average of $42.82 and a 200 day moving average of $36.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.55 and a beta of 1.07.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a $0.2425 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.97 annualized dividend and a yield of 2.0%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 34.52%.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of large investors have recently modified their holdings of MOFG. AQR Capital Management LLC raised its holdings in shares of MidWestOne Financial Group by 242.2% in the 1st quarter. AQR Capital Management LLC now owns 40,228 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 28,473 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MidWestOne Financial Group by 8.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,382 shares of the financial services provider’s stock valued at $337,000 after buying an additional 841 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in MidWestOne Financial Group by 16.8% in the first quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider’s stock valued at $15,744,000 after buying an additional 76,368 shares in the last quarter. Empowered Funds LLC lifted its holdings in MidWestOne Financial Group by 8.4% during the 1st quarter. Empowered Funds LLC now owns 68,431 shares of the financial services provider’s stock worth $2,026,000 after buying an additional 5,294 shares during the last quarter. Finally, CWM LLC boosted its position in shares of MidWestOne Financial Group by 238.8% during the 2nd quarter. CWM LLC now owns 3,175 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 2,238 shares in the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.