MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Acquired by Jacobs Asset Management LLC

Jacobs Asset Management LLC increased its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,500 shares of the financial services provider's stock after buying an additional 36,355 shares during the period. MidWestOne Financial Group comprises about 4.2% of Jacobs Asset Management LLC's holdings, making the stock its 10th largest position. Jacobs Asset Management LLC owned about 1.14% of MidWestOne Financial Group worth $6,916,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of MidWestOne Financial Group by 43.1% during the third quarter. Barclays PLC now owns 42,111 shares of the financial services provider's stock valued at $1,202,000 after acquiring an additional 12,677 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of MidWestOne Financial Group during the third quarter worth about $1,116,000. JPMorgan Chase & Co. raised its position in shares of MidWestOne Financial Group by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider's stock valued at $1,239,000 after buying an additional 15,351 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $1,776,000. Finally, Apella Capital LLC purchased a new position in shares of MidWestOne Financial Group during the fourth quarter valued at approximately $268,000. 65.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MOFG has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Piper Sandler dropped their target price on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Hovde Group increased their target price 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. Finally, StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th.

MidWestOne Financial Group Trading Up 0.4%

NASDAQ:MOFG traded up $0.11 during trading hours on Friday, reaching $29.92. 120,050 shares of the company were exchanged, compared to its average volume of 84,951. 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 stock has a 50 day simple moving average of $28.23 and a 200 day simple moving average of $30.05. MidWestOne Financial Group, Inc. has a 52-week low of $20.04 and a 52-week high of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. The business had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. As a group, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

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

Insider Activity at MidWestOne Financial Group

In other news, CEO Charles N. Reeves acquired 1,785 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $27.98 per share, with a total value of $49,944.30. Following the completion of the transaction, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at $1,500,315.58. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company's stock.

MidWestOne Financial Group Company 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.