Jennison Associates LLC Has $39.55 Million Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Jennison Associates LLC grew its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 61.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,335,597 shares of the financial services provider's stock after acquiring an additional 509,965 shares during the period. Jennison Associates LLC owned 6.42% of MidWestOne Financial Group worth $39,547,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund raised its position in shares of MidWestOne Financial Group by 44.8% during 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. Bank of New York Mellon Corp raised its position in MidWestOne Financial Group by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 95,396 shares of the financial services provider's stock worth $2,825,000 after purchasing an additional 6,926 shares in the last quarter. GAMMA Investing LLC raised its position 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 worth $646,000 after purchasing an additional 21,693 shares in the last quarter. Wellington Management Group LLP raised its position in MidWestOne Financial Group by 30.8% in the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock worth $30,473,000 after purchasing an additional 246,117 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of MidWestOne Financial Group by 32.5% during the fourth quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider's stock worth $41,000 after buying an additional 343 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ:MOFG opened at $30.14 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a market cap of $627.51 million, a PE ratio of -8.51 and a beta of 1.00. The company's 50 day moving average price is $29.10 and its two-hundred day moving average price is $29.24. MidWestOne Financial Group, Inc. has a 12-month low of $24.62 and a 12-month high of $34.56.

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 EPS for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. Equities research analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio is presently -27.40%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered 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 report on Monday, April 28th. Piper Sandler decreased their price target on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a 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.

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