MidWestOne Financial Group, Inc. (NASDAQ:MOFG) is Jacobs Asset Management LLC's 10th Largest Position

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in shares of MidWestOne Financial Group in the 3rd quarter worth approximately $1,116,000. Proficio Capital Partners LLC purchased a new position in shares of MidWestOne Financial Group in the 4th quarter worth approximately $518,000. Bank of New York Mellon Corp grew its position in shares of MidWestOne Financial Group by 12.0% in the 4th quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider's stock worth $2,576,000 after buying an additional 9,510 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of MidWestOne Financial Group by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider's stock worth $1,239,000 after buying an additional 15,351 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in MidWestOne Financial Group by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 56,987 shares of the financial services provider's stock worth $1,659,000 after purchasing an additional 15,768 shares during the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Price Performance

NASDAQ MOFG traded down $0.21 during mid-day trading on Wednesday, hitting $29.38. The stock had a trading volume of 71,309 shares, compared to its average volume of 84,698. The firm's 50 day moving average is $28.19 and its 200 day moving average is $30.04. MidWestOne Financial Group, Inc. has a twelve month low of $20.04 and a twelve month 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. The stock has a market capitalization of $611.60 million, a price-to-earnings ratio of -7.24 and a beta of 0.99.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.54% and a net margin of 9.79%. The firm had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. Equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Hovde Group boosted their target price on shares of 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 decreased their price objective on shares of 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. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Monday, April 28th.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 1,785 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the acquisition, the chief executive officer now directly owns 53,621 shares in the company, valued at $1,500,315.58. This represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

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.