MidWestOne Financial Group (NASDAQ:MOFG) Share Price Passes Above 200-Day Moving Average - Should You Sell?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

Several equities analysts have recently commented on MOFG shares. Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. Finally, StockNews.com downgraded MidWestOne Financial Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th.

MidWestOne Financial Group Stock Down 1.4 %

The company's fifty day simple moving average is $31.38 and its 200 day simple moving average is $28.13. 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 firm has a market capitalization of $608.50 million, a PE ratio of -6.27 and a beta of 1.03.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.243 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.97 annualized dividend and a yield of 3.32%. MidWestOne Financial Group's payout ratio is -20.77%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, Director Matthew J. Hayek bought 2,000 shares of the company's stock in a transaction on Monday, September 30th. The shares were acquired at an average cost 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 of the company's stock, valued at $282,325. The trade was a 21.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles N. Reeves purchased 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $25.00 per share, with a total value of $175,000.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Over the last 90 days, insiders bought 9,400 shares of company stock valued at $235,000. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of MidWestOne Financial Group

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of MidWestOne Financial Group in the third quarter worth approximately $22,186,000. Wellington Management Group LLP lifted its position in MidWestOne Financial Group by 318.0% in the 3rd quarter. Wellington Management Group LLP now owns 800,334 shares of the financial services provider's stock valued at $22,834,000 after acquiring an additional 608,883 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in MidWestOne Financial Group during the 3rd quarter valued at $7,094,000. Jacobs Asset Management LLC bought a new stake in shares of MidWestOne Financial Group in the 3rd quarter worth $5,739,000. Finally, Stieven Capital Advisors L.P. purchased a new position in shares of MidWestOne Financial Group in the third quarter worth $5,706,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

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.