Matthew J. Hayek Buys 2,000 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Matthew J. Hayek purchased 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MidWestOne Financial Group Trading Down 4.6 %

Shares of MOFG stock opened at $27.23 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $429.01 million, a P/E ratio of 18.91 and a beta of 1.02. The company has a 50 day moving average price of $28.04 and a 200 day moving average price of $24.05. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.19 and a fifty-two week high of $30.51.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $57.90 million during the quarter, compared to analyst estimates of $45.75 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 5.27%. Equities research analysts predict that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 67.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in MidWestOne Financial Group by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 653 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in MidWestOne Financial Group by 24.8% during the 4th quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 2,728 shares in the last quarter. Empowered Funds LLC grew its holdings in MidWestOne Financial Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider’s stock worth $1,247,000 after acquiring an additional 4,015 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in MidWestOne Financial Group by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider’s stock worth $2,016,000 after acquiring an additional 8,490 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in MidWestOne Financial Group by 8.5% during the 2nd quarter. American Century Companies Inc. now owns 137,963 shares of the financial services provider’s stock worth $3,103,000 after acquiring an additional 10,798 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Wall Street Analysts Forecast Growth

MOFG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. Piper Sandler boosted their price target on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.