BNP Paribas Financial Markets Sells 36,084 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

BNP Paribas Financial Markets decreased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 90.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,852 shares of the financial services provider's stock after selling 36,084 shares during the quarter. BNP Paribas Financial Markets' holdings in MidWestOne Financial Group were worth $112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MOFG. Wellington Management Group LLP lifted its stake in shares of MidWestOne Financial Group by 30.8% in 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 acquiring an additional 246,117 shares during the last quarter. Vanguard Group Inc. increased its holdings in MidWestOne Financial Group by 21.5% in 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 in the last quarter. Jennison Associates LLC raised its position in MidWestOne Financial Group by 6.2% in 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MidWestOne Financial Group by 9.6% during 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, Geode Capital Management LLC grew its holdings in shares of MidWestOne Financial Group by 29.0% during 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 during the last quarter. Institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Trading Down 1.9%

MOFG traded down $0.56 during midday trading on Wednesday, hitting $28.20. 71,695 shares of the company were exchanged, compared to its average volume of 87,412. The firm's 50 day moving average price is $28.16 and its 200-day moving average price is $29.85. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The firm has a market capitalization of $587.04 million, a P/E ratio of -6.95 and a beta of 0.99. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

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 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 during the quarter, compared to the consensus estimate of $58.87 million. As a group, equities analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.44%. MidWestOne Financial Group's payout ratio is -27.40%.

Insider Transactions at MidWestOne Financial Group

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 bought at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the transaction, the chief executive officer now directly owns 53,621 shares in the company, valued at $1,500,315.58. This represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MOFG shares. Piper Sandler lowered 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 price target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Monday, April 28th.

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.