Clarius Group LLC Invests $331,000 in MidWestOne Financial Group, Inc. $MOFG

Key Points

• Clarius Group LLC invested $331,000 in MidWestOne Financial Group, acquiring 11,503 shares, representing a 0.06% ownership stake.
• MidWestOne Financial Group reported disappointing earnings of $0.49 EPS, missing analysts' expectations of $0.77 by ($0.28), but had revenue of $61.41 million, exceeding the predicted $60.60 million.
• The company announced a quarterly dividend of $0.2425 per share, providing a 3.3% yield based on an annualized basis.

Clarius Group LLC bought a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,503 shares of the financial services provider's stock, valued at approximately $331,000. Clarius Group LLC owned 0.06% of MidWestOne Financial Group at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of MidWestOne Financial Group by 63.8% in the 4th quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider's stock valued at $723,000 after buying an additional 9,671 shares during the period. California State Teachers Retirement System lifted its stake in MidWestOne Financial Group by 32.5% in the fourth quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider's stock worth $41,000 after acquiring an additional 343 shares during the last quarter. GAMMA Investing LLC grew its holdings in MidWestOne Financial Group by 16,686.9% during the 1st quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider's stock worth $646,000 after acquiring an additional 21,693 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in MidWestOne Financial Group by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 95,396 shares of the financial services provider's stock worth $2,825,000 after acquiring an additional 6,926 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of MidWestOne Financial Group by 44.8% in the 1st quarter. New York State Common Retirement Fund now owns 5,820 shares of the financial services provider's stock valued at $172,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Trading Up 1.7%

MOFG opened at $29.26 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. MidWestOne Financial Group, Inc. has a 52 week low of $24.62 and a 52 week high of $34.56. The business's 50 day moving average is $28.89 and its two-hundred day moving average is $28.72. The firm has a market cap of $605.97 million, a price-to-earnings ratio of -7.21 and a beta of 1.03.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.28). The firm had revenue of $61.41 million for the quarter, compared to analyst estimates of $60.60 million. On average, research analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $0.2425 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.3%. MidWestOne Financial Group's payout ratio is currently -23.89%.

Analyst Ratings Changes

MOFG has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of MidWestOne Financial Group in a research note on Saturday, September 27th. Zacks Research upgraded MidWestOne Financial Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Piper Sandler cut their target price on MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, MidWestOne Financial Group currently has an average rating of "Hold" and a consensus price target of $34.17.

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $28.04 per share, with a total value of $140,200.00. Following the completion of the acquisition, the chief executive officer directly owned 58,867 shares in the company, valued at $1,650,630.68. This represents a 9.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Len D. Devaisher acquired 1,000 shares of MidWestOne Financial Group stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $28.72 per share, with a total value of $28,720.00. Following the completion of the purchase, the chief operating officer owned 3,000 shares in the company, valued at $86,160. The trade was a 50.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 6,800 shares of company stock valued at $190,882 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

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.

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