MidWestOne Financial Group (NASDAQ:MOFG) Share Price Passes Above 200-Day Moving Average – Should You Sell?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.39 and traded as high as $39.32. MidWestOne Financial Group shares last traded at $38.98, with a volume of 85,502 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on MOFG shares. Zacks Research upgraded MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Stephens cut shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods increased their target price on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MidWestOne Financial Group in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.17.

MidWestOne Financial Group Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $804.16 million, a PE ratio of 13.87 and a beta of 1.06. The firm’s 50-day simple moving average is $38.74 and its 200-day simple moving average is $32.39.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share for the quarter. The firm had revenue of $50.10 million during the quarter. MidWestOne Financial Group had a net margin of 16.66% and a return on equity of 10.22%. On average, research analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, December 1st. MidWestOne Financial Group’s dividend payout ratio is currently 34.52%.

Insider Activity

In other news, CEO Charles N. Reeves purchased 1,550 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $36.67 per share, with a total value of $56,838.50. Following the transaction, the chief executive officer owned 60,542 shares of the company’s stock, valued at $2,220,075.14. This represents a 2.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 3,760 shares of company stock worth $138,546. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of MidWestOne Financial Group

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its holdings in shares of MidWestOne Financial Group by 4.5% in the 2nd quarter. Jennison Associates LLC now owns 1,395,623 shares of the financial services provider’s stock valued at $40,152,000 after purchasing an additional 60,026 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of MidWestOne Financial Group by 11.4% during the third quarter. Wellington Management Group LLP now owns 1,354,527 shares of the financial services provider’s stock valued at $38,320,000 after purchasing an additional 139,033 shares in the last quarter. Vanguard Group Inc. increased its holdings in MidWestOne Financial Group by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,030,102 shares of the financial services provider’s stock valued at $29,142,000 after buying an additional 15,065 shares during the period. FJ Capital Management LLC raised its stake in MidWestOne Financial Group by 4.0% in the third quarter. FJ Capital Management LLC now owns 796,883 shares of the financial services provider’s stock worth $22,544,000 after buying an additional 30,681 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in MidWestOne Financial Group by 16.8% in the first quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider’s stock worth $15,744,000 after buying an additional 76,368 shares in the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.