MidWestOne Financial Group (NASDAQ:MOFG) Sees Unusually-High Trading Volume – Time to Buy?

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) saw unusually-strong trading volume on Friday . Approximately 383,089 shares changed hands during trading, an increase of 166% from the previous session’s volume of 143,994 shares.The stock last traded at $38.7590 and had previously closed at $37.68.

Wall Street Analyst Weigh In

MOFG has been the subject of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of MidWestOne Financial Group in a research report on Wednesday. Zacks Research raised MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Piper Sandler decreased their price objective on MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Stephens cut shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.17.

MidWestOne Financial Group Stock Up 2.2%

The firm has a market capitalization of $794.37 million, a PE ratio of 13.70 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $32.53 and a two-hundred day moving average of $30.23.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Wednesday, June 7th. The financial services provider reported $0.88 EPS for the quarter. The company had revenue of $50.10 million during the quarter. MidWestOne Financial Group had a return on equity of 10.35% and a net margin of 16.66%. On average, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. MidWestOne Financial Group’s payout ratio is 34.52%.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 760 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $37.91 per share, with a total value of $28,811.60. Following the completion of the transaction, the chief executive officer directly owned 62,752 shares of the company’s stock, valued at approximately $2,378,928.32. The trade was a 1.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 3,760 shares of company stock worth $138,546 in the last ninety days. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On MidWestOne Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in shares of MidWestOne Financial Group by 129.2% in the third quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider’s stock worth $35,000 after buying an additional 700 shares during the period. Russell Investments Group Ltd. increased its holdings in MidWestOne Financial Group by 12,135.7% in the third quarter. Russell Investments Group Ltd. now owns 1,713 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,699 shares during the last quarter. CWM LLC lifted its stake in MidWestOne Financial Group by 238.8% during the second quarter. CWM LLC now owns 3,175 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,238 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in MidWestOne Financial Group by 65.0% in the third quarter. BNP Paribas Financial Markets now owns 3,298 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in MidWestOne Financial Group during the 2nd quarter worth $98,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

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.