Cresset Asset Management LLC Has $3.36 Million Stock Holdings in MidWestOne Financial Group, Inc. $MOFG

Key Points

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Cresset Asset Management LLC lessened its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 36.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,540 shares of the financial services provider's stock after selling 66,387 shares during the quarter. Cresset Asset Management LLC owned about 0.55% of MidWestOne Financial Group worth $3,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Investments LP grew its stake in MidWestOne Financial Group by 57.7% in the fourth quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider's stock valued at $1,922,000 after acquiring an additional 24,140 shares during the period. GAMMA Investing LLC grew its stake in MidWestOne Financial Group by 16,686.9% in the first quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider's stock valued at $646,000 after acquiring an additional 21,693 shares during the period. Northern Trust Corp grew its stake in MidWestOne Financial Group by 29.0% in the fourth quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider's stock valued at $4,813,000 after acquiring an additional 37,129 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MidWestOne Financial Group by 32.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 2,575 shares during the period. Finally, Bank of America Corp DE grew its stake in MidWestOne Financial Group by 63.8% in the fourth quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider's stock valued at $723,000 after acquiring an additional 9,671 shares during the period. 65.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

MidWestOne Financial Group Stock Up 6.2%

Shares of MOFG stock traded up $1.76 on Friday, hitting $30.29. 109,257 shares of the stock were exchanged, compared to its average volume of 123,221. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $627.31 million, a P/E ratio of -7.46 and a beta of 1.05. The business has a 50-day moving average of $28.81 and a 200 day moving average of $28.93. MidWestOne Financial Group, Inc. has a fifty-two week low of $24.62 and a fifty-two week high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.28). The firm had revenue of $61.41 million during the quarter, compared to the consensus estimate of $60.60 million. Equities analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. MidWestOne Financial Group's dividend payout ratio is currently -23.89%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. 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. Piper Sandler decreased their target price on MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $34.17.

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.