Cresset Asset Management LLC Cuts Stock Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Cresset Asset Management LLC cut its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 70.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,927 shares of the financial services provider's stock after selling 430,208 shares during the quarter. Cresset Asset Management LLC owned approximately 0.87% of MidWestOne Financial Group worth $5,239,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in MidWestOne Financial Group by 30.8% during the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock worth $30,473,000 after acquiring an additional 246,117 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 158,899 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock valued at $24,042,000 after buying an additional 47,979 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 buying an additional 70,059 shares in the last quarter. Finally, Basswood Capital Management L.L.C. increased its holdings in MidWestOne Financial Group by 111.1% during the fourth quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider's stock worth $15,282,000 after buying an additional 276,164 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Charles N. Reeves acquired 1,785 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now directly owns 53,621 shares in the company, valued at $1,500,315.58. The trade was a 3.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MOFG shares. Keefe, Bruyette & Woods lowered their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note 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 report on Monday, April 28th. Finally, Hovde Group upped their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a research report on Monday, January 27th.

MidWestOne Financial Group Trading Up 2.4%

NASDAQ:MOFG traded up $0.68 on Monday, reaching $29.49. 88,690 shares of the stock traded hands, compared to its average volume of 84,287. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The company's 50 day moving average is $28.18 and its 200-day moving average is $30.04. The firm has a market capitalization of $613.89 million, a price-to-earnings ratio of -7.26 and a beta of 0.99.

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 (EPS) for the quarter, meeting the consensus estimate of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The business had revenue of $57.58 million for the quarter, compared to analyst estimates 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 business also recently announced 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. This represents a $0.97 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio 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.