FJ Capital Management LLC Acquires 138,959 Shares of MidWestOne Financial Group, Inc. $MOFG

Key Points

• FJ Capital Management LLC increased its stake in MidWestOne Financial Group by 22.8% during the 1st quarter, now holding 747,456 shares valued at approximately $22.1 million.
• Several institutional investors, including Jennison Associates LLC and Wellington Management Group LLP, significantly boosted their positions in MidWestOne Financial Group, contributing to a total of 65.42% institutional ownership.
• MidWestOne Financial Group announced a quarterly dividend of $0.2425 per share, resulting in an annualized yield of 3.2%, with the ex-dividend date set for September 2.

FJ Capital Management LLC lifted its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 22.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 747,456 shares of the financial services provider's stock after buying an additional 138,959 shares during the quarter. MidWestOne Financial Group comprises 2.3% of FJ Capital Management LLC's portfolio, making the stock its 14th biggest holding. FJ Capital Management LLC owned about 3.59% of MidWestOne Financial Group worth $22,132,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MOFG. California State Teachers Retirement System raised its holdings in shares of 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 valued at $41,000 after buying an additional 343 shares during the last quarter. AlphaQuest LLC bought a new position in shares of MidWestOne Financial Group in the first quarter valued at about $103,000. New York State Common Retirement Fund raised its holdings in shares of MidWestOne Financial Group by 44.8% in the first quarter. New York State Common Retirement Fund now owns 5,820 shares of the financial services provider's stock valued at $172,000 after buying an additional 1,800 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of MidWestOne Financial Group in the fourth quarter valued at about $211,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 buying an additional 2,575 shares during the last quarter. 65.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler cut their price target on MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Zacks Research raised MidWestOne Financial Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $34.17.

Insider Activity

In related news, COO Len D. Devaisher bought 1,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $28,720.00. Following the transaction, the chief operating officer owned 3,000 shares of the company's stock, valued at $86,160. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles N. Reeves bought 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price 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 in the company, valued at approximately $1,650,630.68. This trade represents a 9.28% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 6,800 shares of company stock valued at $190,882 over the last 90 days. Corporate insiders own 2.50% of the company's stock.

MidWestOne Financial Group Trading Down 1.1%

MOFG stock traded down $0.34 during midday trading on Friday, reaching $29.83. The stock had a trading volume of 135,478 shares, compared to its average volume of 89,432. The business has a fifty day simple moving average of $29.23 and a two-hundred day simple moving average of $28.83. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $617.78 million, a price-to-earnings ratio of -7.35 and a beta of 1.06. MidWestOne Financial Group, Inc. has a twelve month low of $24.62 and a twelve month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) 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. As a group, research analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently announced 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 3.3%. The ex-dividend date is Tuesday, September 2nd. MidWestOne Financial Group's payout ratio is presently -23.89%.

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.