GAMMA Investing LLC Increases Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

GAMMA Investing LLC raised its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 16,686.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,823 shares of the financial services provider's stock after purchasing an additional 21,693 shares during the period. GAMMA Investing LLC owned 0.10% of MidWestOne Financial Group worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MOFG. California State Teachers Retirement System boosted its position 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 valued at $41,000 after purchasing an additional 343 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of MidWestOne Financial Group by 38.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 541 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $211,000. Polymer Capital Management US LLC purchased a new stake in MidWestOne Financial Group in the 4th quarter valued at $222,000. Finally, Quantbot Technologies LP purchased a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at about $237,000. Institutional investors and hedge funds own 65.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MOFG. Piper Sandler lowered their target price on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, April 28th.

MidWestOne Financial Group Stock Performance

NASDAQ MOFG traded up $0.13 during trading hours on Thursday, hitting $27.41. 106,783 shares of the stock were exchanged, compared to its average volume of 91,083. 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 company has a market cap of $570.68 million, a price-to-earnings ratio of -7.74 and a beta of 1.01. MidWestOne Financial Group, Inc. has a 12-month low of $20.41 and a 12-month high of $34.56. The stock has a 50-day moving average of $28.31 and a 200 day moving average of $29.54.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. As a group, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.2425 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.54%. MidWestOne Financial Group's dividend payout ratio is presently -27.40%.

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.