MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock Position Lifted by Northern Trust Corp

Northern Trust Corp increased its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 29.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,274 shares of the financial services provider's stock after buying an additional 37,129 shares during the quarter. Northern Trust Corp owned about 0.80% of MidWestOne Financial Group worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of 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 buying an additional 246,117 shares during the period. Vanguard Group Inc. raised its position in shares of MidWestOne Financial Group by 21.5% in the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock worth $26,099,000 after buying an additional 158,899 shares during the period. Jennison Associates LLC raised its position in shares of MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock worth $24,042,000 after buying an additional 47,979 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MidWestOne Financial Group by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock worth $23,273,000 after buying an additional 70,059 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of MidWestOne Financial Group by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider's stock worth $12,617,000 after buying an additional 97,502 shares during the period. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Stock Down 0.6%

NASDAQ:MOFG traded down $0.18 during mid-day trading on Friday, hitting $28.30. The company had a trading volume of 83,625 shares, compared to its average volume of 86,600. The business has a fifty day simple moving average of $28.30 and a 200-day simple moving average of $30.05. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 1 year low of $20.04 and a 1 year high of $34.56. The firm has a market capitalization of $589.12 million, a price-to-earnings ratio of -6.97 and a beta of 0.99.

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

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid 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 3.43%. MidWestOne Financial Group's dividend payout ratio is presently -27.40%.

Wall Street Analyst Weigh In

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

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves bought 1,785 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company's stock.

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.