Piper Sandler Trims MidWestOne Financial Group (NASDAQ:MOFG) Target Price to $31.50

MidWestOne Financial Group (NASDAQ:MOFG) had its target price decreased by stock analysts at Piper Sandler from $33.00 to $31.50 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 8.17% from the company’s current price.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.00.

MidWestOne Financial Group Trading Down 0.4 %

MOFG stock opened at $29.12 on Monday. The firm has a fifty day moving average price of $28.45 and a 200 day moving average price of $24.89. MidWestOne Financial Group has a fifty-two week low of $19.43 and a fifty-two week high of $30.51. 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 firm has a market cap of $458.79 million, a PE ratio of 20.22 and a beta of 1.02.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 7,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 7,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew J. Hayek purchased 2,000 shares of MidWestOne Financial Group 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 transaction, the director now directly owns 11,293 shares in the company, valued at $282,325. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 9,400 shares of company stock worth $235,000 over the last quarter. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On MidWestOne Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust acquired a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at about $713,000. Sippican Capital Advisors increased its stake in shares of MidWestOne Financial Group by 1.9% in the 3rd quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock valued at $1,893,000 after purchasing an additional 1,205 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at about $163,000. MidWestOne Financial Group Inc. increased its stake in shares of MidWestOne Financial Group by 1.0% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock valued at $94,397,000 after purchasing an additional 43,172 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of MidWestOne Financial Group in the 2nd quarter valued at about $388,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

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.