Keefe, Bruyette & Woods Lowers MidWestOne Financial Group (NASDAQ:MOFG) Price Target to $27.00

MidWestOne Financial Group (NASDAQ:MOFG) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $28.00 to $27.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 22.39% from the company’s previous close.

Several other analysts have also recently weighed in on MOFG. Hovde Group began coverage on shares of MidWestOne Financial Group in a research note on Monday, March 4th. They set a “market perform” rating on the stock. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. TheStreet raised shares of MidWestOne Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Finally, Piper Sandler started coverage on shares of MidWestOne Financial Group in a research note on Wednesday, March 13th. They set a “neutral” rating and a $24.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.67.

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock traded down $0.44 during trading hours on Friday, hitting $22.06. 2,792 shares of the stock were exchanged, compared to its average volume of 30,551. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $347.45 million, a P/E ratio of 16.71 and a beta of 0.95. MidWestOne Financial Group has a 12 month low of $17.80 and a 12 month high of $27.78. The business’s 50-day moving average is $23.27 and its two-hundred day moving average is $22.90.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. The firm had revenue of $36.42 million for the quarter, compared to analysts’ expectations of $43.40 million. MidWestOne Financial Group had a net margin of 7.78% and a return on equity of 7.12%. Equities research analysts expect that MidWestOne Financial Group will post 2.17 EPS for the current fiscal year.

Insider Activity at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 4,447 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $22.49 per share, for a total transaction of $100,013.03. Following the completion of the acquisition, the chief executive officer now directly owns 38,346 shares of the company’s stock, valued at approximately $862,401.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

Large investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in MidWestOne Financial Group by 64.8% in the second quarter. Captrust Financial Advisors now owns 860 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 338 shares during the period. Lazard Asset Management LLC raised its holdings in MidWestOne Financial Group by 1,590.0% in the fourth quarter. Lazard Asset Management LLC now owns 845 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 795 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in MidWestOne Financial Group in the fourth quarter worth $29,000. FMR LLC raised its holdings in MidWestOne Financial Group by 249.1% in the first quarter. FMR LLC now owns 1,288 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 919 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in MidWestOne Financial Group by 170.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,733 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,092 shares during the period. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.