MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock Position Reduced by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 73.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,085 shares of the financial services provider's stock after selling 110,915 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.19% of MidWestOne Financial Group worth $1,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jane Street Group LLC increased its stake in MidWestOne Financial Group by 30.3% in the 3rd quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider's stock valued at $804,000 after purchasing an additional 6,545 shares in the last quarter. Geode Capital Management LLC increased its position in MidWestOne Financial Group by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider's stock worth $9,579,000 after purchasing an additional 9,787 shares in the last quarter. Barclays PLC boosted its stake in shares of MidWestOne Financial Group by 43.1% during the 3rd quarter. Barclays PLC now owns 42,111 shares of the financial services provider's stock worth $1,202,000 after purchasing an additional 12,677 shares during the last quarter. Virtu Financial LLC acquired a new stake in MidWestOne Financial Group during the third quarter worth approximately $261,000. Finally, Franklin Resources Inc. acquired a new stake in MidWestOne Financial Group in the 3rd quarter worth about $1,116,000. 65.42% of the stock is owned by institutional investors and hedge funds.

MidWestOne Financial Group Stock Performance

MOFG stock traded up $0.09 during trading on Monday, reaching $28.70. 8,607 shares of the company's stock were exchanged, compared to its average volume of 83,319. The firm has a market cap of $597.32 million, a PE ratio of -7.07 and a beta of 0.88. The company's fifty day moving average price is $28.34 and its 200-day moving average price is $30.07. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. 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 - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting analysts' consensus estimates of $0.73. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. The firm had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. On average, research analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -27.40%.

Analyst Ratings Changes

MOFG has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Hovde Group raised their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th. Finally, Piper Sandler cut their price target on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 28th.

Insider Buying and Selling at MidWestOne Financial Group

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