MidWestOne Financial Group (NASDAQ:MOFG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.98 and traded as high as $31.71. MidWestOne Financial Group shares last traded at $30.68, with a volume of 100,383 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Hovde Group increased their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research report on Monday, January 27th.

MidWestOne Financial Group Stock Performance

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 firm has a market capitalization of $637.38 million, a price-to-earnings ratio of -7.56 and a beta of 1.04. The firm’s 50-day moving average price is $30.48 and its two-hundred day moving average price is $29.98.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. Sell-side analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio is -23.89%.

Institutional Trading of MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its stake in shares of MidWestOne Financial Group by 38.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 541 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in MidWestOne Financial Group during the fourth quarter worth $211,000. Polymer Capital Management US LLC acquired a new stake in MidWestOne Financial Group in the 4th quarter valued at about $222,000. SG Americas Securities LLC increased its holdings in shares of MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 2,014 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of MidWestOne Financial Group in the fourth quarter valued at about $237,000. 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.