Barclays PLC Increases Stock Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Barclays PLC grew its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,198 shares of the financial services provider's stock after purchasing an additional 9,087 shares during the quarter. Barclays PLC owned approximately 0.25% of MidWestOne Financial Group worth $1,492,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bailard Inc. raised its holdings in shares of MidWestOne Financial Group by 3.7% in the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider's stock valued at $347,000 after buying an additional 420 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings 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 valued at $57,000 after buying an additional 541 shares during the period. Corebridge Financial Inc. raised its holdings in MidWestOne Financial Group by 18.8% in the fourth quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 1,462 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of MidWestOne Financial Group by 35.3% in the 4th 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 during the period. Finally, Sei Investments Co. increased its stake in shares of MidWestOne Financial Group by 11.5% in the fourth quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider's stock valued at $573,000 after purchasing an additional 2,023 shares during the period. 65.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

MidWestOne Financial Group Stock Performance

NASDAQ MOFG traded down $0.12 on Friday, hitting $28.81. 8,629 shares of the company's stock traded hands, compared to its average volume of 83,653. The firm has a market capitalization of $599.71 million, a PE ratio of -7.10 and a beta of 0.99. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The firm's 50-day moving average price is $28.19 and its two-hundred day moving average price is $30.03.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. As a group, analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.37%. MidWestOne Financial Group's dividend payout ratio is presently -27.40%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MOFG shares. Hovde Group boosted their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. Piper Sandler lowered 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 note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price 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 note on Monday, January 27th.

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.