MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Position Lessened by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 70.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 179,927 shares of the financial services provider's stock after selling 430,208 shares during the quarter. Cresset Asset Management LLC owned about 0.87% of MidWestOne Financial Group worth $5,239,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted 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 worth $30,473,000 after purchasing an additional 246,117 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $23,273,000 after purchasing an additional 70,059 shares in the last quarter. Finally, Basswood Capital Management L.L.C. grew its position in shares of MidWestOne Financial Group by 111.1% in the fourth quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider's stock valued at $15,282,000 after purchasing an additional 276,164 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MOFG shares. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Piper Sandler lowered their price objective on shares of 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. Hovde Group lifted their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price objective 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.

Insider Transactions at MidWestOne Financial Group

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

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG traded down $0.02 during trading on Wednesday, reaching $29.57. The stock had a trading volume of 28,214 shares, compared to its average volume of 84,269. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a market cap of $615.56 million, a PE ratio of -7.28 and a beta of 0.99. MidWestOne Financial Group, Inc. has a one year low of $20.04 and a one year high of $34.56. The firm's 50 day moving average price is $28.19 and its two-hundred day moving average price is $30.05.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, research 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 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 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 3.28%. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -27.40%.

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.