Basswood Capital Management L.L.C. Grows Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Basswood Capital Management L.L.C. raised its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 111.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 524,803 shares of the financial services provider's stock after purchasing an additional 276,164 shares during the quarter. Basswood Capital Management L.L.C. owned 2.53% of MidWestOne Financial Group worth $15,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of MidWestOne Financial Group by 30.8% during the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock valued at $30,473,000 after buying an additional 246,117 shares in the last quarter. Vanguard Group Inc. raised its stake in MidWestOne Financial Group by 21.5% during the 4th 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 during the period. Jennison Associates LLC lifted its holdings 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 valued at $24,042,000 after purchasing an additional 47,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock worth $23,273,000 after purchasing an additional 70,059 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of MidWestOne Financial Group by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider's stock worth $12,617,000 after purchasing an additional 97,502 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MOFG shares. Hovde Group upped 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. Piper Sandler dropped their price objective on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th.

Insider Activity at MidWestOne Financial Group

In other news, CEO Charles N. Reeves purchased 1,785 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the acquisition, the chief executive officer now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock traded down $0.19 during trading on Friday, reaching $28.74. 21,732 shares of the stock traded hands, compared to its average volume of 83,706. MidWestOne Financial Group, Inc. has a 52-week low of $20.04 and a 52-week high of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The business has a fifty day simple moving average of $28.19 and a two-hundred day simple moving average of $30.03. The company has a market capitalization of $598.25 million, a price-to-earnings ratio of -7.08 and a beta of 0.99.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $57.58 million for the quarter, compared to analysts' expectations of $58.87 million. Sell-side analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

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

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.