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

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

Several other institutional investors and hedge funds have also modified their holdings of MOFG. Wellington Management Group LLP raised its holdings in MidWestOne Financial Group by 30.8% in the 4th 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 during the period. California State Teachers Retirement System raised its holdings in 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. Two Sigma Advisers LP raised its holdings in MidWestOne Financial Group by 40.3% in the 4th quarter. Two Sigma Advisers LP now owns 32,700 shares of the financial services provider's stock worth $952,000 after purchasing an additional 9,400 shares during the period. Two Sigma Investments LP raised its holdings in MidWestOne Financial Group by 57.7% in the 4th quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider's stock worth $1,922,000 after purchasing an additional 24,140 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in MidWestOne Financial Group by 5.4% in the 4th quarter. Nuveen Asset Management LLC now owns 37,410 shares of the financial services provider's stock worth $1,089,000 after purchasing an additional 1,926 shares during the period. Institutional investors and hedge funds own 65.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MOFG. Piper Sandler reduced their target price on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price 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 Price Performance

Shares of MOFG stock traded up $0.40 during trading hours on Friday, reaching $27.81. The company had a trading volume of 500,210 shares, compared to its average volume of 92,665. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $28.39 and a 200-day moving average of $29.41. The company has a market capitalization of $579.00 million, a price-to-earnings ratio of -7.86 and a beta of 1.01. MidWestOne Financial Group, Inc. has a 12-month low of $20.61 and a 12-month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly 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 company had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. On average, equities analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.2425 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.49%. MidWestOne Financial Group's payout ratio is -27.40%.

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.