Nuveen LLC Buys New Shares in MidWestOne Financial Group, Inc. $MOFG

Key Points

• Nuveen LLC has acquired 63,227 shares of MidWestOne Financial Group, Inc., valued at approximately $1.87 million, representing a 0.30% ownership stake in the company.
• Insider purchases include COO Len D. Devaisher and CEO Charles N. Reeves buying 1,000 and 5,000 shares respectively, reflecting increased confidence in the company's stock.
• MidWestOne Financial Group's latest earnings report showed an EPS of $0.49, missing analysts' expectations, while the company also announced a quarterly dividend of $0.2425 per share.

Nuveen LLC acquired a new position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 63,227 shares of the financial services provider's stock, valued at approximately $1,872,000. Nuveen LLC owned 0.30% of MidWestOne Financial Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Investments LP increased its stake 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 valued at $1,922,000 after purchasing an additional 24,140 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MidWestOne Financial Group by 16,686.9% during the first quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider's stock valued at $646,000 after purchasing an additional 21,693 shares in the last quarter. Northern Trust Corp increased its stake in shares of MidWestOne Financial Group by 29.0% during the fourth quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider's stock valued at $4,813,000 after purchasing an additional 37,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MidWestOne Financial Group by 32.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 2,575 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of MidWestOne Financial Group by 63.8% during the fourth quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider's stock valued at $723,000 after purchasing an additional 9,671 shares in the last quarter. Institutional investors own 65.42% of the company's stock.

Insider Buying and Selling

In other MidWestOne Financial Group news, COO Len D. Devaisher acquired 1,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of $28.72 per share, with a total value of $28,720.00. Following the transaction, the chief operating officer directly owned 3,000 shares in the company, valued at approximately $86,160. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles N. Reeves acquired 5,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $28.04 per share, with a total value of $140,200.00. Following the transaction, the chief executive officer owned 58,867 shares in the company, valued at approximately $1,650,630.68. This trade represents a 9.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,800 shares of company stock valued at $190,882. 2.50% of the stock is currently owned by insiders.

MidWestOne Financial Group Stock Performance

NASDAQ:MOFG traded up $0.44 during trading hours on Thursday, reaching $30.17. The company had a trading volume of 102,137 shares, compared to its average volume of 90,834. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. MidWestOne Financial Group, Inc. has a 52 week low of $24.62 and a 52 week high of $34.56. The firm has a market cap of $624.82 million, a price-to-earnings ratio of -7.43 and a beta of 1.06. The firm's 50 day moving average price is $29.21 and its 200-day moving average price is $28.85.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.28). The business had revenue of $61.41 million for the quarter, compared to analyst estimates of $60.60 million. On average, analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. MidWestOne Financial Group's payout ratio is -23.89%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Zacks Research raised shares of MidWestOne Financial Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, MidWestOne Financial Group currently has an average rating of "Hold" and an average price target of $34.17.

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.