MidWestOne Financial Group (NASDAQ:MOFG) Reaches New 52-Week High – Here’s What Happened

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) shares hit a new 52-week high on Monday . The company traded as high as $48.86 and last traded at $48.7880, with a volume of 87505 shares trading hands. The stock had previously closed at $48.18.

Analyst Ratings Changes

Several equities analysts have issued reports on MOFG shares. Stephens lowered MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of MidWestOne Financial Group in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price target 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. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.50.

MidWestOne Financial Group Stock Up 0.8%

The business has a 50-day simple moving average of $41.83 and a two-hundred day simple moving average of $35.17. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 17.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were issued a $0.2425 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.97 annualized dividend and a yield of 2.0%. MidWestOne Financial Group’s dividend payout ratio is 34.52%.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of large investors have recently added to or reduced their stakes in MOFG. Federated Hermes Inc. boosted its position in MidWestOne Financial Group by 129.2% during the third quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MidWestOne Financial Group by 8.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,382 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 841 shares during the period. Invesco Ltd. lifted its stake in shares of MidWestOne Financial Group by 2.9% during the 2nd quarter. Invesco Ltd. now owns 30,485 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 848 shares during the period. SG Americas Securities LLC boosted its holdings in shares of MidWestOne Financial Group by 15.5% during the second quarter. SG Americas Securities LLC now owns 8,488 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of MidWestOne Financial Group by 4.8% in the second quarter. Rhumbline Advisers now owns 26,265 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 1,206 shares during the period. 65.42% of the stock is owned by institutional investors and hedge funds.

MidWestOne Financial Group Company Profile

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.