MidWestOne Financial Group (NASDAQ:MOFG) Hits New 12-Month High – Time to Buy?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) reached a new 52-week high on Monday . The company traded as high as $48.86 and last traded at $48.7880, with a volume of 87505 shares. The stock had previously closed at $48.18.

Wall Street Analyst Weigh In

MOFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Stephens lowered MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MidWestOne Financial Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.50.

MidWestOne Financial Group Stock Up 0.8%

The firm has a 50 day moving average price of $41.83 and a 200-day moving average price of $35.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.00 billion, a PE ratio of 17.28 and a beta of 1.07.

MidWestOne Financial Group Dividend Announcement

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

Institutional Trading of MidWestOne Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in shares of MidWestOne Financial Group by 129.2% in the 3rd quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 700 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in MidWestOne Financial Group by 12,135.7% during the third quarter. Russell Investments Group Ltd. now owns 1,713 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,699 shares during the last quarter. Signaturefd LLC boosted its holdings in MidWestOne Financial Group by 402.1% in the fourth quarter. Signaturefd LLC now owns 2,124 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 1,701 shares in the last quarter. CWM LLC increased its stake in MidWestOne Financial Group by 238.8% in the second quarter. CWM LLC now owns 3,175 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 2,238 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of MidWestOne Financial Group by 65.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,298 shares of the financial services provider’s stock worth $93,000 after buying an additional 1,299 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

MidWestOne Financial Group Company Profile

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.