Millennium Management LLC Purchases 79,860 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Millennium Management LLC lifted its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 256.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,977 shares of the financial services provider's stock after buying an additional 79,860 shares during the period. Millennium Management LLC owned about 0.53% of MidWestOne Financial Group worth $3,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MOFG. Summit Investment Advisors Inc. boosted its holdings in 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 last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of MidWestOne Financial Group during the fourth quarter worth approximately $211,000. Polymer Capital Management US LLC acquired a new stake in MidWestOne Financial Group in the fourth quarter worth approximately $222,000. SG Americas Securities LLC lifted its position in MidWestOne Financial Group by 35.3% in the fourth 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 period. Finally, Quantbot Technologies LP bought a new position in shares of MidWestOne Financial Group in the fourth quarter valued at $237,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock traded up $0.48 during midday trading on Tuesday, reaching $28.74. The company had a trading volume of 47,380 shares, compared to its average volume of 86,730. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $598.28 million, a price-to-earnings ratio of -7.08 and a beta of 0.99. The stock has a fifty day simple moving average of $28.18 and a 200 day simple moving average of $29.86. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73. The business had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Analyst Upgrades and Downgrades

MOFG has been the topic of several research analyst reports. Piper Sandler lowered their price target on shares of 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 target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, April 28th.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the firm's stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares in the company, valued at $1,500,315.58. The trade was a 3.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

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.