Numerai GP LLC Buys New Shares in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Numerai GP LLC purchased a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,405 shares of the financial services provider’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOFG. Summit Investment Advisors Inc. increased its stake in shares of MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 541 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in MidWestOne Financial Group in the 4th quarter valued at about $211,000. Polymer Capital Management US LLC bought a new position in MidWestOne Financial Group during the fourth quarter worth about $222,000. SG Americas Securities LLC increased its position in MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock worth $225,000 after buying an additional 2,014 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in MidWestOne Financial Group in the fourth quarter valued at approximately $237,000. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Trading Up 1.5%

Shares of MOFG stock opened at $29.81 on Friday. MidWestOne Financial Group, Inc. has a 12-month low of $20.04 and a 12-month high of $34.56. The company has a market capitalization of $620.55 million, a PE ratio of -7.34 and a beta of 0.99. The firm has a 50 day moving average price of $28.23 and a two-hundred day moving average price of $30.05. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $57.58 million during the quarter, compared to analysts’ expectations of $58.87 million. 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 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -27.40%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MOFG. Piper Sandler cut their price objective on MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Hovde Group raised their price target 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. Keefe, Bruyette & Woods decreased their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 53,621 shares in the company, valued at $1,500,315.58. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

MidWestOne Financial Group Company 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.