MidWestOne Financial Group, Inc. (NASDAQ:MOFG)‘s stock had its “buy” rating restated by investment analysts at Keefe, Bruyette & Woods in a report issued on Friday. They currently have a $40.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 16.35% from the company’s previous close.

MOFG has been the topic of a number of other research reports. Piper Jaffray Companies began coverage on MidWestOne Financial Group in a report on Thursday, April 6th. They set a “neutral” rating and a $37.00 price target on the stock. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th.

Shares of MidWestOne Financial Group (NASDAQ:MOFG) opened at 34.38 on Friday. MidWestOne Financial Group has a 12 month low of $26.50 and a 12 month high of $39.20. The company’s 50 day moving average price is $34.69 and its 200 day moving average price is $35.25. The company has a market cap of $419.78 million, a price-to-earnings ratio of 18.28 and a beta of 1.25.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 1.92%. MidWestOne Financial Group’s dividend payout ratio is presently 29.63%.

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In other MidWestOne Financial Group news, Director John M. Morrison sold 2,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $32.88, for a total transaction of $65,760,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 26.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in MidWestOne Financial Group by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 24,579 shares of the financial services provider’s stock worth $843,000 after buying an additional 122 shares during the period. American International Group Inc. increased its position in MidWestOne Financial Group by 7.0% in the first quarter. American International Group Inc. now owns 5,077 shares of the financial services provider’s stock worth $174,000 after buying an additional 332 shares during the period. Pinnacle Holdings LLC increased its position in MidWestOne Financial Group by 3.2% in the second quarter. Pinnacle Holdings LLC now owns 10,964 shares of the financial services provider’s stock worth $313,000 after buying an additional 335 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in MidWestOne Financial Group by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 62,730 shares of the financial services provider’s stock worth $1,722,000 after buying an additional 396 shares during the period. Finally, California State Teachers Retirement System increased its position in MidWestOne Financial Group by 3.8% in the second quarter. California State Teachers Retirement System now owns 17,309 shares of the financial services provider’s stock worth $494,000 after buying an additional 631 shares during the period. Hedge funds and other institutional investors own 22.73% of the company’s stock.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.

12 Month Chart for NASDAQ:MOFG

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