Bank of America Corp DE Increases Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Bank of America Corp DE increased its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 63.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,818 shares of the financial services provider's stock after buying an additional 9,671 shares during the period. Bank of America Corp DE owned about 0.12% of MidWestOne Financial Group worth $723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Stifel Financial Corp boosted its stake in shares of MidWestOne Financial Group by 0.5% during the 4th quarter. Stifel Financial Corp now owns 67,439 shares of the financial services provider's stock worth $1,964,000 after purchasing an additional 345 shares during the last quarter. Bailard Inc. increased its position 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 worth $347,000 after acquiring an additional 420 shares in the last quarter. Summit Investment Advisors Inc. raised its position in MidWestOne Financial Group by 38.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 541 shares during the period. Corebridge Financial Inc. lifted its position in MidWestOne Financial Group by 18.8% during the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock worth $269,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of MidWestOne Financial Group by 11.5% during the fourth quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider's stock worth $573,000 after purchasing an additional 2,023 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

Analyst Upgrades and Downgrades

MOFG has been the topic of several recent analyst reports. Piper Sandler cut their price target on 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 decreased their target price on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Monday, April 28th.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock opened at $28.76 on Monday. The firm has a market capitalization of $598.70 million, a price-to-earnings ratio of -7.08 and a beta of 1.01. 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 12-month low of $20.04 and a 12-month high of $34.56. The business has a 50 day simple moving average of $28.09 and a 200 day simple moving average of $29.77.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, meeting analysts' consensus estimates 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. On average, equities research analysts anticipate 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. Investors of record on Monday, June 2nd will be issued a $0.2425 dividend. The ex-dividend date of this dividend 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 payout ratio is currently -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.

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