Two Sigma Investments LP Raises Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Two Sigma Investments LP boosted its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 57.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,002 shares of the financial services provider's stock after acquiring an additional 24,140 shares during the quarter. Two Sigma Investments LP owned about 0.32% of MidWestOne Financial Group worth $1,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. lifted its position in shares of MidWestOne Financial Group by 111.1% during the fourth quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider's stock worth $15,282,000 after purchasing an additional 276,164 shares during the last quarter. Wellington Management Group LLP lifted its holdings in MidWestOne Financial Group by 30.8% during the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock valued at $30,473,000 after buying an additional 246,117 shares in the last quarter. Vanguard Group Inc. lifted its holdings in MidWestOne Financial Group by 21.5% during the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after buying an additional 158,899 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 valued at $12,617,000 after buying an additional 97,502 shares during the period. Finally, Millennium Management LLC grew its stake in MidWestOne Financial Group by 256.6% in the 4th quarter. Millennium Management LLC now owns 110,977 shares of the financial services provider's stock worth $3,232,000 after acquiring an additional 79,860 shares in the last quarter. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MOFG. Piper Sandler reduced their target price on shares of 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 dropped their price objective on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th.

MidWestOne Financial Group Stock Up 2.3%

NASDAQ:MOFG traded up $0.66 during mid-day trading on Friday, reaching $28.76. The company's stock had a trading volume of 77,280 shares, compared to its average volume of 88,020. The company has a quick ratio of 0.77, a current ratio of 0.78 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 stock has a fifty day moving average of $28.09 and a 200-day moving average of $29.81. The firm has a market capitalization of $598.70 million, a PE ratio of -7.08 and a beta of 1.01.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The business had revenue of $57.58 million during the quarter, compared to analyst estimates of $58.87 million. 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 business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.37%. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 1,785 shares of MidWestOne Financial Group stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares in the company, valued at approximately $1,500,315.58. The trade was a 3.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company's stock.

MidWestOne Financial Group Profile

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.