MidWestOne Financial Group (NASDAQ:MOFG) PT Lowered to $22.00

MidWestOne Financial Group (NASDAQ:MOFG) had its price target cut by stock analysts at Piper Sandler from $24.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 9.07% from the company’s current price.

MOFG has been the topic of a number of other research reports. Hovde Group cut their target price on MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Keefe, Bruyette & Woods lowered their price target on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. Finally, StockNews.com raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, MidWestOne Financial Group presently has a consensus rating of “Hold” and an average price target of $24.13.

MidWestOne Financial Group Stock Down 2.2 %

MOFG opened at $20.17 on Monday. The business’s 50-day simple moving average is $22.00 and its 200-day simple moving average is $23.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. MidWestOne Financial Group has a one year low of $17.80 and a one year high of $27.78. The stock has a market capitalization of $317.68 million, a P/E ratio of 14.01 and a beta of 0.95.

Insider Buying and Selling at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 4,447 shares of the stock in a transaction on Monday, March 11th. The shares were bought at an average price of $22.49 per share, with a total value of $100,013.03. Following the acquisition, the chief executive officer now owns 38,346 shares of the company’s stock, valued at $862,401.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MidWestOne Financial Group

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of MidWestOne Financial Group during the 3rd quarter worth approximately $129,000. Trexquant Investment LP boosted its stake in shares of MidWestOne Financial Group by 47.0% during the 3rd quarter. Trexquant Investment LP now owns 31,048 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 9,929 shares in the last quarter. Bailard Inc. purchased a new stake in shares of MidWestOne Financial Group during the 4th quarter worth approximately $346,000. Swiss National Bank boosted its stake in shares of MidWestOne Financial Group by 2.5% during the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of MidWestOne Financial Group by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock worth $1,918,000 after acquiring an additional 591 shares in the last quarter. Hedge funds and other 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.