Jennison Associates LLC boosted its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 61.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,335,597 shares of the financial services provider's stock after buying an additional 509,965 shares during the period. Jennison Associates LLC owned 6.42% of MidWestOne Financial Group worth $39,547,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in MOFG. California State Teachers Retirement System raised its holdings in shares of MidWestOne Financial Group by 32.5% in the 4th quarter. California State Teachers Retirement System now owns 1,398 shares of the financial services provider's stock worth $41,000 after purchasing an additional 343 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of MidWestOne Financial Group by 38.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock worth $57,000 after purchasing an additional 541 shares during the period. New York State Common Retirement Fund raised its holdings 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 worth $172,000 after purchasing an additional 1,800 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of MidWestOne Financial Group in the 4th quarter worth about $211,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of MidWestOne Financial Group in the 4th quarter worth about $222,000. 65.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently commented on MOFG. Piper Sandler cut their price objective on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Monday, April 28th.
View Our Latest Stock Analysis on MOFG
MidWestOne Financial Group Stock Down 1.0%
Shares of NASDAQ:MOFG traded down $0.31 during mid-day trading on Wednesday, hitting $29.65. 7,926 shares of the company traded hands, compared to its average volume of 101,459. The firm has a market cap of $617.21 million, a P/E ratio of -8.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. MidWestOne Financial Group, Inc. has a 52-week low of $24.62 and a 52-week high of $34.56. The firm's 50 day simple moving average is $29.11 and its 200 day simple moving average is $29.26.
MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.73. The business had revenue of $57.58 million during the quarter, compared to analyst estimates of $58.87 million. On average, equities analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.
MidWestOne Financial Group Company Profile
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Free Report)
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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