MidWestOne price target raised to $30 from $22 at Piper Sandler

Piper Sandler raised the firm’s price target on MidWestOne to $30 from $22 and keeps a Neutral rating on the shares. While results were noisy with the intra-quarter closing sale of MidWestOne’s Florida operations, the firm believes this was a solid underlying quarter given 7% PPNR upside via greater net interest margin expansion and stronger core fee income.