Millennium Management LLC boosted its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 256.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,977 shares of the financial services provider's stock after buying an additional 79,860 shares during the quarter. Millennium Management LLC owned approximately 0.53% of MidWestOne Financial Group worth $3,232,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in shares of MidWestOne Financial Group by 38.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 541 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $211,000. Polymer Capital Management US LLC bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $222,000. SG Americas Securities LLC grew its holdings in shares of MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 2,014 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $237,000. 65.42% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Charles N. Reeves bought 1,785 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.
Analysts Set New Price Targets
MOFG has been the subject of several recent research reports. Piper Sandler lowered 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 lowered 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.
Check Out Our Latest Research Report on MOFG
MidWestOne Financial Group Stock Performance
Shares of NASDAQ MOFG traded down $0.56 during midday trading on Wednesday, hitting $28.20. 71,695 shares of the company's stock were exchanged, compared to its average volume of 87,412. 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 stock's 50 day moving average price is $28.16 and its 200-day moving average price is $29.85. The firm has a market cap of $587.04 million, a P/E ratio of -6.95 and a beta of 0.99. MidWestOne Financial Group, Inc. has a twelve month low of $20.04 and a twelve month 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. Equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS 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. Stockholders of record on Monday, June 2nd will be given a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.44%. MidWestOne Financial Group's dividend payout ratio is presently -27.40%.
About MidWestOne Financial Group
(
Free Report)
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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