Stieven Capital Advisors L.P. Buys 25,200 Shares of MidWestOne Financial Group, Inc. $MOFG

Key Points

• Stieven Capital Advisors increased its stake in MidWestOne (NASDAQ:MOFG) by 19.3% in Q3, buying 25,200 shares to hold 155,600 shares valued at $4.402 million (about 0.75% ownership).
• Wall Street consensus is a "Hold" with a target price of $40.50, while the stock opened at $49.31, trades at a P/E of 17.55 and has a market cap of $1.02 billion.
• MidWestOne recently paid a quarterly dividend of $0.2425 (annualized $0.97), implying a yield of 2.0% and a payout ratio of 34.52%.

Stieven Capital Advisors L.P. increased its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 19.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,600 shares of the financial services provider's stock after purchasing an additional 25,200 shares during the period. Stieven Capital Advisors L.P. owned 0.75% of MidWestOne Financial Group worth $4,402,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MOFG. Federated Hermes Inc. boosted its position in MidWestOne Financial Group by 129.2% in the 3rd quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider's stock valued at $35,000 after buying an additional 700 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of MidWestOne Financial Group by 12,135.7% during the third quarter. Russell Investments Group Ltd. now owns 1,713 shares of the financial services provider's stock worth $48,000 after acquiring an additional 1,699 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of MidWestOne Financial Group by 65.0% during the third quarter. BNP Paribas Financial Markets now owns 3,298 shares of the financial services provider's stock worth $93,000 after acquiring an additional 1,299 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of MidWestOne Financial Group during the second quarter valued at $98,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of MidWestOne Financial Group by 286.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,524 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 2,613 shares during the period. Institutional investors and hedge funds own 65.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of MidWestOne Financial Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.50.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG opened at $49.31 on Friday. The company's fifty day moving average is $46.32 and its 200-day moving average is $38.69. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 17.55 and a beta of 1.07. MidWestOne Financial Group, Inc. has a twelve month low of $24.62 and a twelve month high of $49.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, January 16th. MidWestOne Financial Group's payout ratio is presently 34.52%.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc NASDAQ: MOFG is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.

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