MidWestOne Financial Group (NASDAQ:MOFG) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.02 and traded as high as $30.23. MidWestOne Financial Group shares last traded at $29.29, with a volume of 104,787 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MOFG shares. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Piper Sandler lowered their price objective 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. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th.

MidWestOne Financial Group Trading Down 1.4 %

The business has a 50 day moving average of $31.38 and a two-hundred day moving average of $28.08. The firm has a market cap of $608.50 million, a P/E ratio of -6.27 and a beta of 1.03. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, December 2nd. MidWestOne Financial Group’s payout ratio is presently -20.77%.

Insider Buying and Selling

In other news, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. This represents a 18.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew J. Hayek bought 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the transaction, the director now owns 11,293 shares of the company’s stock, valued at $282,325. This trade represents a 21.52 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 9,400 shares of company stock valued at $235,000. Company insiders own 2.80% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its position in shares of MidWestOne Financial Group by 3.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of MidWestOne Financial Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 1,000 shares during the period. Sippican Capital Advisors grew its position in MidWestOne Financial Group by 1.9% during the third quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock worth $1,893,000 after buying an additional 1,205 shares in the last quarter. Empowered Funds LLC increased its stake in MidWestOne Financial Group by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the financial services provider’s stock worth $1,715,000 after acquiring an additional 2,948 shares during the period. Finally, Martingale Asset Management L P raised its holdings in MidWestOne Financial Group by 13.1% in the 3rd quarter. Martingale Asset Management L P now owns 33,186 shares of the financial services provider’s stock valued at $947,000 after acquiring an additional 3,852 shares in the last quarter. Institutional investors and hedge funds 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.