MidWestOne Financial Group (NASDAQ:MOFG) Share Price Passes Above 200 Day Moving Average – What’s Next?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MOFG. StockNews.com lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating 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 increased their price target for the stock from $34.00 to $39.00 in a report on Tuesday, December 17th. Finally, Piper Sandler lowered their target price 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.

MidWestOne Financial Group Trading Down 1.4 %

The firm’s 50 day simple moving average is $31.38 and its two-hundred day simple moving average is $28.08. The stock has a market capitalization of $608.50 million, a P/E ratio of -6.27 and a beta of 1.03. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Announces Dividend

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 dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently -20.77%.

Insiders Place Their Bets

In other MidWestOne Financial Group news, Director Matthew J. Hayek bought 2,000 shares of the firm’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 $50,000.00. Following the completion of the transaction, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. The trade was a 21.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles N. Reeves purchased 7,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 45,712 shares in the company, valued at $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 9,400 shares of company stock worth $235,000. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of MidWestOne Financial Group

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position 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 valued at $512,000 after purchasing an additional 653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in MidWestOne Financial Group by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 1,000 shares in the last quarter. Sippican Capital Advisors increased its stake in 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 buying an additional 1,205 shares during the last quarter. Empowered Funds LLC lifted its position in shares of MidWestOne Financial Group by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 2,948 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of MidWestOne Financial Group by 13.1% in the 3rd quarter. Martingale Asset Management L P now owns 33,186 shares of the financial services provider’s stock worth $947,000 after buying an additional 3,852 shares during the last quarter. Institutional investors own 65.42% of the company’s stock.

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.