MidWestOne Financial Group (NASDAQ:MOFG) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) shares 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 target price (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, MidWestOne Financial Group presently has an average rating of “Hold” and a consensus target price of $26.50.

MidWestOne Financial Group Stock Down 3.3 %

The company has a market capitalization of $445.66 million, a P/E ratio of 14.42 and a beta of 1.02. The business’s fifty day moving average price is $28.42 and its 200 day moving average price is $24.78. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21.

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

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.243 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.44%. MidWestOne Financial Group’s payout ratio is presently 49.49%.

Insider Buying and Selling

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 price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Matthew J. Hayek acquired 2,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the director now directly owns 11,293 shares in the company, valued at $282,325. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles N. Reeves bought 7,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,712 shares in the company, valued at approximately $1,142,800. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 9,400 shares of company stock worth $235,000. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in MidWestOne Financial Group in the 3rd quarter worth about $163,000. Renaissance Technologies LLC bought a new position in shares of MidWestOne Financial Group during the 2nd quarter valued at $247,000. Hsbc Holdings PLC purchased a new position in MidWestOne Financial Group in the 2nd quarter worth approximately $329,000. Bank of Montreal Can purchased a new position in shares of MidWestOne Financial Group in the second quarter worth $388,000. Finally, Rhumbline Advisers raised its stake in shares of MidWestOne Financial Group by 3.0% during the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 653 shares during the last quarter. 65.42% of the stock is 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.