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

Interval Partners LP decreased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Basswood Capital Management L.L.C. lifted its stake in shares of MidWestOne Financial Group by 111.1% during the 4th quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider's stock worth $15,282,000 after acquiring an additional 276,164 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MidWestOne Financial Group by 30.8% during the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock valued at $30,473,000 after purchasing an additional 246,117 shares during the period. Vanguard Group Inc. boosted its stake in shares of MidWestOne Financial Group by 21.5% during the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after purchasing an additional 158,899 shares during the period. Geode Capital Management LLC grew its holdings in shares of MidWestOne Financial Group by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider's stock worth $12,617,000 after purchasing an additional 97,502 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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. Institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Stock Up 0.4%

NASDAQ:MOFG traded up $0.11 during mid-day trading on Friday, hitting $29.92. 120,050 shares of the company's stock traded hands, compared to its average volume of 84,951. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market capitalization of $622.84 million, a P/E ratio of -7.37 and a beta of 0.99. The company has a fifty day moving average of $28.23 and a 200 day moving average of $30.05. MidWestOne Financial Group, Inc. has a twelve month low of $20.04 and a twelve month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73. The company had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.24%. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Insider Buying and Selling

In related news, CEO Charles N. Reeves purchased 1,785 shares of the firm's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $27.98 per share, with a total value of $49,944.30. Following the completion of the acquisition, the chief executive officer now owns 53,621 shares of the company's stock, valued at $1,500,315.58. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MOFG. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Hovde Group upped their price objective on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on shares of 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. Finally, Piper Sandler reduced their price target 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.

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.