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

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.02 and traded as high as $30.23. MidWestOne Financial Group shares last traded at $29.29, with a volume of 104,787 shares changing hands.

Analyst Upgrades and Downgrades

MOFG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. StockNews.com cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Piper Sandler reduced their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday, October 28th.

MidWestOne Financial Group Stock Down 1.4 %

The firm has a market cap of $608.50 million, a price-to-earnings ratio of -6.27 and a beta of 1.03. The stock’s 50 day moving average is $31.38 and its 200 day moving average is $28.13. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.243 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.32%. MidWestOne Financial Group’s dividend payout ratio (DPR) is -20.77%.

Insider Activity at MidWestOne Financial Group

In related news, Director Matthew J. Hayek acquired 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the purchase, the director now directly owns 11,293 shares in the company, valued at $282,325. The trade was a 21.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles N. Reeves bought 7,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 9,400 shares of company stock valued at $235,000 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of MidWestOne Financial Group by 3.0% in the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after buying an additional 653 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of MidWestOne Financial Group by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 1,000 shares in the last quarter. Sippican Capital Advisors grew its position in MidWestOne Financial Group by 1.9% during the 3rd quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock worth $1,893,000 after purchasing an additional 1,205 shares in the last quarter. Empowered Funds LLC raised its stake in MidWestOne Financial Group by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 2,948 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in shares of MidWestOne Financial Group by 13.1% in the third quarter. Martingale Asset Management L P now owns 33,186 shares of the financial services provider’s stock valued at $947,000 after purchasing an additional 3,852 shares in the last quarter. Institutional investors and hedge funds 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.