LSV Asset Management Lowers Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

LSV Asset Management reduced its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,780 shares of the financial services provider’s stock after selling 10,502 shares during the quarter. LSV Asset Management owned 0.64% of MidWestOne Financial Group worth $3,896,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Polymer Capital Management US LLC purchased a new position in shares of MidWestOne Financial Group during the 4th quarter valued at approximately $222,000. SG Americas Securities LLC increased its holdings in MidWestOne Financial Group by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after buying an additional 2,014 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MidWestOne Financial Group in the fourth quarter worth about $237,000. Virtu Financial LLC acquired a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $261,000. Finally, Apella Capital LLC purchased a new position in shares of MidWestOne Financial Group in the 4th quarter valued at about $268,000. 65.42% of the stock is owned by institutional investors and hedge funds.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock opened at $25.39 on Monday. The stock has a market capitalization of $528.52 million, a P/E ratio of -6.25 and a beta of 0.88. The business has a 50 day simple moving average of $29.61 and a two-hundred day simple moving average of $30.10. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. As a group, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio is currently -23.89%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MOFG. Hovde Group raised their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a report on Monday, January 27th. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th.

Insider Buying and Selling

In other MidWestOne Financial Group news, CEO Charles N. Reeves bought 1,785 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the purchase, the chief executive officer now directly owns 53,621 shares of the company’s stock, valued at $1,500,315.58. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

MidWestOne Financial Group Profile

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.