Interval Partners LP Cuts Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Interval Partners LP cut its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,137 shares of the financial services provider's stock after selling 18,211 shares during the quarter. Interval Partners LP owned 0.16% of MidWestOne Financial Group worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake 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 worth $30,473,000 after purchasing an additional 246,117 shares in the last quarter. Vanguard Group Inc. grew its stake 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 worth $26,099,000 after purchasing an additional 158,899 shares in the last quarter. Jennison Associates LLC grew its stake in MidWestOne Financial Group by 6.2% during the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock worth $24,042,000 after purchasing an additional 47,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock worth $23,273,000 after acquiring an additional 70,059 shares in the last quarter. Finally, FJ Capital Management LLC boosted its position in shares of MidWestOne Financial Group by 0.9% during the 4th quarter. FJ Capital Management LLC now owns 608,497 shares of the financial services provider's stock worth $17,719,000 after acquiring an additional 5,622 shares in the last quarter. 65.42% of the stock is owned by institutional investors and hedge funds.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG traded up $0.11 during trading hours on Friday, reaching $29.92. The stock had a trading volume of 120,050 shares, compared to its average volume of 85,365. The firm has a market cap of $622.84 million, a price-to-earnings ratio of -7.37 and a beta of 0.99. 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 fifty-two week low of $20.04 and a fifty-two week high of $34.56. The firm has a 50-day moving average of $28.28 and a 200-day moving average of $30.06.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.73. The firm had revenue of $57.58 million during the quarter, compared to analysts' expectations 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 predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.2425 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.24%. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -27.40%.

Analyst Ratings Changes

MOFG has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price objective on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Hovde Group upped their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Piper Sandler lowered their price objective on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th.

Insider Activity at MidWestOne Financial Group

In related news, CEO Charles N. Reeves acquired 1,785 shares of MidWestOne Financial Group stock in a transaction on 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 purchase, the chief executive officer now directly owns 53,621 shares in the company, valued at approximately $1,500,315.58. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.