MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) shares 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 traded.
Analyst Upgrades and Downgrades
Several analysts have recently commented on MOFG shares. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $34.00 to $39.00 in a report on Tuesday, December 17th. Hovde Group upped their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th.
Check Out Our Latest Stock Report on MOFG
MidWestOne Financial Group Stock Performance
The firm's fifty day moving average price is $30.45 and its two-hundred day moving average price is $30.01. The stock has a market capitalization of $632.60 million, a PE ratio of -7.50 and a beta of 1.04. 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 (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.
MidWestOne Financial Group Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.19%. MidWestOne Financial Group's dividend payout ratio is currently -23.89%.
Institutional Trading of MidWestOne Financial Group
A number of institutional investors and hedge funds have recently made changes to their positions in MOFG. Summit Investment Advisors Inc. lifted its position in shares of MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after buying an additional 541 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in MidWestOne Financial Group during the fourth quarter worth $211,000. Polymer Capital Management US LLC purchased a new position in MidWestOne Financial Group during the fourth quarter valued at $222,000. SG Americas Securities LLC grew its position in shares of MidWestOne Financial Group by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 2,014 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at about $237,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.
About MidWestOne Financial Group
(
Get Free Report)
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.
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