MidWestOne Financial Group Inc. Sells 71,932 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

MidWestOne Financial Group Inc. cut its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,093,192 shares of the financial services provider's stock after selling 71,932 shares during the period. MidWestOne Financial Group accounts for 16.7% of MidWestOne Financial Group Inc.'s portfolio, making the stock its largest position. MidWestOne Financial Group Inc. owned approximately 19.71% of MidWestOne Financial Group worth $119,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of MOFG. Two Sigma Advisers LP lifted its stake in MidWestOne Financial Group by 40.3% during the fourth 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 last quarter. Two Sigma Investments LP raised its holdings in shares of 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 purchasing an additional 24,140 shares during the period. Nuveen Asset Management LLC lifted its position in shares of 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 buying an additional 1,926 shares during the last quarter. Numerai GP LLC bought a new position in shares of MidWestOne Financial Group in the 4th quarter worth about $332,000. Finally, Millennium Management LLC boosted its holdings in shares of MidWestOne Financial Group by 256.6% in the 4th quarter. Millennium Management LLC now owns 110,977 shares of the financial services provider's stock valued at $3,232,000 after buying an additional 79,860 shares during the period. Institutional investors own 65.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Hovde Group increased their price objective on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Wall Street Zen upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler cut their price objective on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th.

MidWestOne Financial Group Stock Performance

MOFG stock traded down $0.18 on Monday, reaching $28.30. The company's stock had a trading volume of 83,625 shares, compared to its average volume of 86,804. MidWestOne Financial Group, Inc. has a 52 week low of $20.04 and a 52 week high of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market capitalization of $589.12 million, a P/E ratio of -6.97 and a beta of 0.99. The firm has a fifty day moving average of $28.30 and a two-hundred day moving average of $30.03.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last released its quarterly 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 company had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. As a group, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.43%. MidWestOne Financial Group's payout ratio is -27.40%.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves acquired 1,785 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.

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.