Adage Capital Partners GP L.L.C. Has $1.14 Million Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Adage Capital Partners GP L.L.C. trimmed its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 73.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 0.19% of MidWestOne Financial Group worth $1,138,000 at the end of the most recent reporting period.

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

Insider Transactions at MidWestOne Financial Group

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

MidWestOne Financial Group Trading Up 2.1 %

Shares of MidWestOne Financial Group stock traded up $0.59 during trading on Friday, hitting $28.61. The company's stock had a trading volume of 52,139 shares, compared to its average volume of 83,370. The stock has a market cap of $595.55 million, a price-to-earnings ratio of -7.05 and a beta of 0.88. 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, Inc. has a 52 week low of $20.04 and a 52 week high of $34.56. The stock has a 50-day moving average price of $28.38 and a two-hundred day moving average price of $30.07.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. The company had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. Equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MOFG. Hovde Group boosted 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 research note on Monday, January 27th. Piper Sandler reduced their price objective on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a research report on Monday. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Monday.

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.