The stock of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) hit a new 52-week high and has $46.22 target or 34.00% above today’s $34.49 share price. The 6 months bullish chart indicates low risk for the $412.01M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $46.22 price target is reached, the company will be worth $140.08 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 9.04% or $2.86 during the last trading session, hitting $34.49. About 39,997 shares traded hands or 229.79% up from the average. MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has risen 20.82% since April 11, 2016 and is uptrending. It has outperformed by 14.67% the S&P500.
According to Zacks Investment Research, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value.”
Insitutional Activity: The institutional sentiment decreased to 1.32 in 2016 Q2. Its down 0.68, from 2 in 2016Q1. The ratio turned negative, as 6 funds sold all MidWestOne Financial Group, Inc. shares owned while 13 reduced positions. 6 funds bought stakes while 19 increased positions. They now own 2.36 million shares or 3.43% more from 2.28 million shares in 2016Q1.
Moreover, Legal & General Gp Public Ltd Co has 0% invested in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) for 1,111 shares. Vanguard Group has 0% invested in the company for 181,675 shares. Dimensional Fund Lp holds 0% or 139,592 shares in its portfolio. Deutsche Bankshares Ag reported 14,715 shares or 0% of all its holdings. Denali Advsr Limited Liability has 72 shares for 0% of their US portfolio. Cornerstone Cap Management Hldgs Limited Liability Company has invested 0% of its portfolio in MidWestOne Financial Group, Inc. (NASDAQ:MOFG). California Public Employees Retirement Sys holds 27,100 shares or 0% of its portfolio. Us Retail Bank De has 7,324 shares for 0% of their US portfolio. Amer International Grp Inc owns 4,751 shares or 0% of their US portfolio. Axa last reported 0% of its portfolio in the stock. Teachers Advisors Inc last reported 0% of its portfolio in the stock. Manufacturers Life Insur Co The accumulated 1,831 shares or 0% of the stock. Analytic Invsts Ltd owns 9,144 shares or 0% of their US portfolio. Blackrock Institutional Na holds 68,836 shares or 0% of its portfolio. Prudential Inc reported 29,862 shares or 0% of all its holdings.
Insider Transactions: Since August 8, 2016, the stock had 2 insider purchases, and 0 selling transactions for $24,260 net activity. On Monday, August 8 Stanoch Ruth E bought $19,935 worth of the stock or 700 shares. Shares for $4,325 were bought by Hatch Michael A.
MOFG Company Profile
MidWestOne Financial Group, Inc., incorporated on May 9, 1983, is a bank holding and financial holding company. The Firm operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc. that operates through approximately three agencies located in central and east-central Iowa. The Company’s divisions include Commercial Banking and All Other. MidWestOne Bank and Central Bank provide service retail banking in the communities in which their respective branch offices are located. Deposit products offered include checking and other demand deposit accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, certificates of deposit, individual retirement accounts and other time deposits. The Company’s deposit products also include non-interest-bearing and interest-bearing demand deposits, and money market accounts. The deposit products are offered to individuals, nonprofit organizations, partnerships, small businesses, firms and public entities. MidWestOne Bank and Central Bank offer commercial and industrial, agricultural, real estate mortgage and consumer loans. Other services and products include debit cards, automated teller machines, online banking, mobile banking and safe deposit boxes.
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