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

MidWestOne Financial Group Inc. cut its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,093,192 shares of the financial services provider's stock after selling 71,932 shares during the quarter. MidWestOne Financial Group makes up about 16.7% of MidWestOne Financial Group Inc.'s holdings, making the stock its biggest position. MidWestOne Financial Group Inc. owned about 19.71% of MidWestOne Financial Group worth $119,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOFG. Summit Investment Advisors Inc. grew its position in 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 last quarter. Price T Rowe Associates Inc. MD acquired a new stake in MidWestOne Financial Group in the 4th quarter worth $211,000. Polymer Capital Management US LLC acquired a new stake in MidWestOne Financial Group in the 4th quarter worth $222,000. SG Americas Securities LLC grew its position in MidWestOne Financial Group by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock worth $225,000 after purchasing an additional 2,014 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at about $237,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MidWestOne Financial Group

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hovde Group raised their price target 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. Piper Sandler decreased 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 decreased their price objective 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. Finally, StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th.

MidWestOne Financial Group Trading Up 0.2%

Shares of MOFG stock opened at $29.83 on Wednesday. MidWestOne Financial Group, Inc. has a 12-month low of $20.04 and a 12-month high of $34.56. The company has a market capitalization of $620.97 million, a P/E ratio of -7.35 and a beta of 0.99. The firm has a 50-day moving average price of $28.35 and a 200 day moving average price of $30.07. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The firm had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. Research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio is currently -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.

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