MidWestOne Financial Group (NASDAQ:MOFG) Stock Price Expected to Rise, Hovde Group Analyst Says

MidWestOne Financial Group (NASDAQ:MOFG) had its target price increased by equities research analysts at Hovde Group from $30.00 to $33.50 in a report released on Monday, MarketBeat reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price objective suggests a potential upside of 4.72% from the company’s current price.

Several other research firms also recently weighed in on MOFG. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Piper Sandler lowered their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research note on Monday, October 28th.

MidWestOne Financial Group Stock Down 0.2 %

Shares of MOFG opened at $31.99 on Monday. The firm has a market cap of $664.43 million, a P/E ratio of -6.85 and a beta of 1.05. MidWestOne Financial Group has a 12 month low of $19.43 and a 12 month high of $34.56. The stock’s 50 day moving average is $30.88 and its two-hundred day moving average is $29.38. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 5.13%. Analysts predict that MidWestOne Financial Group will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in MidWestOne Financial Group during the third quarter worth approximately $163,000. Renaissance Technologies LLC acquired a new stake in shares of MidWestOne Financial Group in the 2nd quarter worth $247,000. Virtu Financial LLC purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter worth $261,000. Apella Capital LLC acquired a new position in shares of MidWestOne Financial Group during the 4th quarter valued at about $268,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of MidWestOne Financial Group in the second quarter valued at about $329,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.