Interval Partners LP Sells 17,818 Shares of MidWestOne Financial Group, Inc. $MOFG

Key Points

• Interval Partners LP reduced its stake in MidWestOne Financial Group by 52.2%, now holding 16,319 shares valued at $483,000 after selling 17,818 shares.
• CEO Charles N. Reeves purchased 5,000 shares of the company at an average cost of $28.04 each, increasing his ownership by 9.28%.
• MidWestOne Financial Group announced a quarterly dividend of $0.2425 per share, representing an annualized yield of 3.3%.

Interval Partners LP cut its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 52.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,319 shares of the financial services provider's stock after selling 17,818 shares during the period. Interval Partners LP owned approximately 0.08% of MidWestOne Financial Group worth $483,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its holdings in MidWestOne Financial Group by 57.7% during the fourth quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider's stock worth $1,922,000 after buying an additional 24,140 shares in the last quarter. GAMMA Investing LLC boosted its holdings in MidWestOne Financial Group by 16,686.9% during the first quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider's stock worth $646,000 after buying an additional 21,693 shares in the last quarter. Northern Trust Corp boosted its holdings in MidWestOne Financial Group by 29.0% during the fourth quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider's stock worth $4,813,000 after buying an additional 37,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MidWestOne Financial Group by 32.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider's stock worth $307,000 after buying an additional 2,575 shares in the last quarter. Finally, Nuveen LLC bought a new stake in MidWestOne Financial Group during the first quarter worth approximately $1,872,000. 65.42% of the stock is currently owned by institutional investors.

MidWestOne Financial Group Trading Down 0.0%

Shares of NASDAQ:MOFG traded down $0.01 during mid-day trading on Thursday, hitting $29.42. The stock had a trading volume of 26,932 shares, compared to its average volume of 114,412. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $609.29 million, a PE ratio of -7.22 and a beta of 1.06. MidWestOne Financial Group, Inc. has a 12-month low of $24.62 and a 12-month high of $34.56. The company's 50 day moving average is $29.24 and its 200-day moving average is $28.80.

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 analysts' consensus estimates of $0.77 by ($0.28). The company had revenue of $61.41 million for the quarter, compared to analyst estimates of $60.60 million. On average, sell-side analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.2425 dividend. The ex-dividend date is 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 -23.89%.

Insider Buying and Selling

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

Analysts Set New Price Targets

MOFG has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of 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 upgraded shares of MidWestOne Financial Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $34.17.

About MidWestOne Financial Group

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.