MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lessened its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,093,192 shares of the financial services provider’s stock after selling 71,932 shares during the quarter. MidWestOne Financial Group accounts for 16.7% of MidWestOne Financial Group Inc.’s holdings, making the stock its biggest position. MidWestOne Financial Group Inc. owned approximately 0.20% of MidWestOne Financial Group worth $119,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MOFG. Wellington Management Group LLP boosted its holdings in MidWestOne Financial Group by 30.8% during the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider’s stock worth $30,473,000 after purchasing an additional 246,117 shares during the last quarter. Vanguard Group Inc. raised its position in MidWestOne Financial Group by 21.5% during the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider’s stock worth $26,099,000 after acquiring an additional 158,899 shares in the last quarter. Jennison Associates LLC raised its position in MidWestOne Financial Group by 6.2% during the fourth quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider’s stock worth $24,042,000 after acquiring an additional 47,979 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MidWestOne Financial Group by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider’s stock worth $23,273,000 after acquiring an additional 70,059 shares in the last quarter. Finally, FJ Capital Management LLC raised its position in MidWestOne Financial Group by 0.9% during the fourth quarter. FJ Capital Management LLC now owns 608,497 shares of the financial services provider’s stock worth $17,719,000 after acquiring an additional 5,622 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Insiders Place Their Bets

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

MidWestOne Financial Group Trading Up 0.2%

Shares of MidWestOne Financial Group stock opened at $29.83 on Wednesday. The company has a market capitalization of $620.97 million, a price-to-earnings ratio of -7.35 and a beta of 0.99. 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, Inc. has a 12-month low of $20.04 and a 12-month high of $34.56. The firm’s 50-day moving average price is $28.35 and its two-hundred day moving average price is $30.07.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $57.58 million for the quarter, compared to the consensus estimate of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MOFG. Keefe, Bruyette & Woods dropped their price target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Hovde Group upped their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler dropped their price target on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th.

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.