MidWestOne Financial Group (NASDAQ:MOFG) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MOFG. Keefe, Bruyette & Woods restated 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 boosted their price objective on MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four investment 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 target price of $26.50.

MidWestOne Financial Group Stock Performance

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $460.52 million, a P/E ratio of 20.30 and a beta of 1.02. The company’s 50 day moving average is $28.40 and its 200-day moving average is $24.74.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $45.75 million. As a group, equities analysts anticipate that MidWestOne Financial Group, Inc. will post 2.27 EPS for the current year.

Insider Buying and Selling

In other news, CEO Charles N. Reeves acquired 7,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $25.00 per share, with a total value 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 7,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, with a total value 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. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew J. Hayek bought 2,000 shares of the firm’s stock in a transaction dated 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 owns 11,293 shares of the company’s stock, valued at $282,325. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 9,400 shares of company stock valued at $235,000. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in 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 buying an additional 653 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of MidWestOne Financial Group by 8.2% in the first quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 4,015 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of MidWestOne Financial Group in the third quarter valued at about $163,000. Bank of New York Mellon Corp lifted its position in shares of MidWestOne Financial Group by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider’s stock valued at $2,016,000 after purchasing an additional 8,490 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in MidWestOne Financial Group by 8.5% during the second quarter. American Century Companies Inc. now owns 137,963 shares of the financial services provider’s stock worth $3,103,000 after purchasing an additional 10,798 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.