MidWestOne Financial Group (NASDAQ:MOFG) Sees Large Volume Increase - What's Next?

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 73,148 shares were traded during trading, an increase of 43% from the previous session's volume of 50,990 shares.The stock last traded at $33.08 and had previously closed at $33.61.

Analyst Upgrades and Downgrades

MOFG has been the topic of several recent analyst reports. Piper Sandler lowered their target price 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. Keefe, Bruyette & Woods increased their price objective on MidWestOne Financial Group from $31.00 to $34.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, StockNews.com lowered MidWestOne Financial Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.00.

MidWestOne Financial Group Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $691.64 million, a PE ratio of -7.13 and a beta of 1.03. The firm's 50-day moving average is $30.47 and its 200-day moving average is $27.08.

MidWestOne Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, December 2nd. MidWestOne Financial Group's payout ratio is presently -20.77%.

Insider Activity

In other news, Director Matthew J. Hayek bought 2,000 shares of the stock in a transaction on Monday, September 30th. The shares were bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now owns 11,293 shares in the company, valued at $282,325. The trade was a 21.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles N. Reeves purchased 7,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 9,400 shares of company stock valued at $235,000 over the last three months. Insiders own 2.80% of the company's stock.

Institutional Trading of MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group during the third quarter valued at about $163,000. Renaissance Technologies LLC purchased a new position in shares of MidWestOne Financial Group during the 2nd quarter valued at about $247,000. Virtu Financial LLC bought a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at approximately $261,000. Hsbc Holdings PLC purchased a new stake in MidWestOne Financial Group in the 2nd quarter worth approximately $329,000. Finally, Quadrature Capital Ltd purchased a new stake in MidWestOne Financial Group in the 3rd quarter worth approximately $353,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

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.