Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $31.99, but opened at $30.26. MidWestOne Financial Group shares last traded at $32.17, with a volume of 8,317 shares changing hands.
Analysts Set New Price Targets
A number of analysts have weighed in on MOFG shares. Keefe, Bruyette & Woods raised MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. Piper Sandler decreased their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating for the company in a report on Monday, October 28th. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday. Finally, Hovde Group raised their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research note on Monday.
Check Out Our Latest Stock Report on MOFG
MidWestOne Financial Group Trading Down 0.6 %
The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The firm has a market cap of $660.38 million, a price-to-earnings ratio of -6.81 and a beta of 1.05. The business's 50-day moving average price is $30.88 and its two-hundred day moving average price is $29.38.
MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 5.13% and a net margin of 9.79%. Equities analysts expect that MidWestOne Financial Group, Inc. will post 2.3 earnings per share for the current year.
MidWestOne Financial Group Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group's payout ratio is currently -20.77%.
Hedge Funds Weigh In On MidWestOne Financial Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in MidWestOne Financial Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider's stock valued at $15,901,000 after purchasing an additional 25,767 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of MidWestOne Financial Group during the 2nd quarter valued at approximately $247,000. Hsbc Holdings PLC acquired a new stake in shares of MidWestOne Financial Group during the second quarter worth approximately $329,000. Bank of Montreal Can bought a new stake in shares of MidWestOne Financial Group in the second quarter worth $388,000. Finally, SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group in the third quarter valued at $163,000. Institutional investors and hedge funds own 65.42% of the company's stock.
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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