MidWestOne price target raised to $31 from $28 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on MidWestOne to $31 from $28 and keeps a Market Perform rating on the shares. MidWestOne’s equity offering is expected to allow the bank to restructure its balance sheet and provide some “much-needed relief” to its margin, which in turn is expected to boost earnings in 2025 by over 20%, the analyst tells investors in a research note. The firm increased forward estimates following the capital raise.