MidWestOne Financial Group (NASDAQ:MOFG) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $24.74 and traded as high as $29.40. MidWestOne Financial Group shares last traded at $29.23, with a volume of 38,845 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $28.00 target price (up previously from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Piper Sandler lifted their price objective on MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, MidWestOne Financial Group presently has a consensus rating of "Hold" and an average price target of $26.50.

MidWestOne Financial Group Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74. The company's 50 day moving average is $28.40 and its 200 day moving average is $24.74. The stock has a market capitalization of $445.66 million, a price-to-earnings ratio of 14.91 and a beta of 1.02.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The firm had revenue of $57.90 million during the quarter, compared to the consensus estimate of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. On average, research analysts forecast that MidWestOne Financial Group, Inc. will post 2.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other MidWestOne Financial Group news, Director Matthew J. Hayek acquired 2,000 shares of the company's stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director now owns 11,293 shares in the company, valued at $282,325. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Matthew J. Hayek acquired 2,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were bought 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles N. Reeves bought 7,000 shares of the company's stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $25.00 per share, with a total value of $175,000.00. Following the completion of the acquisition, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,400 shares of company stock worth $235,000 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On MidWestOne Financial Group

Institutional investors have recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. increased its holdings in shares of MidWestOne Financial Group by 1.0% during the second quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider's stock worth $94,397,000 after buying an additional 43,172 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in MidWestOne Financial Group by 3.8% during the 2nd 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 in the last quarter. Vanguard Group Inc. raised its position in MidWestOne Financial Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider's stock valued at $14,796,000 after purchasing an additional 15,512 shares during the last quarter. Choreo LLC acquired a new position in MidWestOne Financial Group in the second quarter worth $584,000. Finally, Rhumbline Advisers grew its holdings in shares of MidWestOne Financial Group by 3.0% during the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider's stock worth $512,000 after purchasing an additional 653 shares during the last quarter. 65.42% of the stock is owned by 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.