MidWestOne Financial Group (NASDAQ:MOFG) Price Target Lowered to $33.00 at Piper Sandler

MidWestOne Financial Group (NASDAQ:MOFG) had its price target cut by equities research analysts at Piper Sandler from $34.50 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 17.96% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Hovde Group boosted their price target on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday. Finally, StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th.

MidWestOne Financial Group Stock Performance

NASDAQ MOFG traded down $0.26 on Monday, reaching $27.98. 28,895 shares of the stock were exchanged, compared to its average volume of 104,224. The firm has a market capitalization of $582.35 million, a PE ratio of -6.89 and a beta of 0.88. MidWestOne Financial Group has a one year low of $20.00 and a one year high of $34.56. The company’s 50-day simple moving average is $28.64 and its two-hundred day simple moving average is $30.10. 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 issued its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. Analysts expect that MidWestOne Financial Group will post 3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 1,785 shares of the company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the purchase, the chief executive officer now directly owns 53,621 shares of the company’s stock, valued at approximately $1,500,315.58. This represents a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MOFG. California State Teachers Retirement System raised its position in MidWestOne Financial Group by 32.5% during the fourth quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 343 shares during the period. Summit Investment Advisors Inc. raised its holdings in MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock valued at $57,000 after buying an additional 541 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in MidWestOne Financial Group in the fourth quarter worth $211,000. Polymer Capital Management US LLC purchased a new position in MidWestOne Financial Group during the fourth quarter worth $222,000. Finally, SG Americas Securities LLC increased its position in MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 2,014 shares during the last quarter. Institutional investors 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.