Mendon Capital Advisors Corp Reduces Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Mendon Capital Advisors Corp cut its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,284 shares of the financial services provider's stock after selling 9,861 shares during the quarter. MidWestOne Financial Group comprises approximately 2.2% of Mendon Capital Advisors Corp's holdings, making the stock its 15th biggest position. Mendon Capital Advisors Corp owned approximately 0.74% of MidWestOne Financial Group worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of MidWestOne Financial Group by 5.7% in the third quarter. State Street Corp now owns 300,394 shares of the financial services provider's stock valued at $8,570,000 after purchasing an additional 16,132 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of MidWestOne Financial Group by 30.3% during the 3rd quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider's stock worth $804,000 after buying an additional 6,545 shares in the last quarter. Barclays PLC raised its stake in MidWestOne Financial Group by 43.1% during the third quarter. Barclays PLC now owns 42,111 shares of the financial services provider's stock worth $1,202,000 after acquiring an additional 12,677 shares in the last quarter. Geode Capital Management LLC boosted its position in MidWestOne Financial Group by 3.0% in the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider's stock valued at $9,579,000 after buying an additional 9,787 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in MidWestOne Financial Group in the 3rd quarter worth about $261,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MOFG shares. Hovde Group raised their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th.

Insider Buying and Selling

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

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock traded down $0.22 during midday trading on Friday, hitting $28.24. 158,412 shares of the company's stock were exchanged, compared to its average volume of 82,481. The stock has a 50-day moving average price of $28.64 and a two-hundred day moving average price of $30.08. The company has a market cap of $587.84 million, a P/E ratio of -6.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. MidWestOne Financial Group, Inc. has a 52-week low of $20.01 and a 52-week 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 earnings per share for the quarter, meeting analysts' consensus estimates of $0.73. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. The company had revenue of $57.58 million during the quarter, compared to analyst estimates of $58.87 million. On average, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share 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. Shareholders of record on Monday, June 2nd will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio (DPR) is -27.40%.

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.