MidWestOne Financial Group, Inc. (NASDAQ:MOFG) COO Len D. Devaisher Acquires 1,000 Shares

Key Points

• Len D. Devaisher, COO of MidWestOne Financial Group, acquired 1,000 shares at an average cost of $28.72 each, increasing his ownership by 50.00% to a total of 3,000 shares valued at approximately $86,160.
• MidWestOne Financial Group's stock is currently trading down 2.2%, with a price of $27.82 and a twelve-month range from $24.62 to $34.56.
• The company reported a Q2 EPS of $0.49, missing estimates, and will pay a quarterly dividend of $0.2425 on September 16th, representing a 3.49% dividend yield.

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) COO Len D. Devaisher bought 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $28.72 per share, with a total value of $28,720.00. Following the acquisition, the chief operating officer directly owned 3,000 shares of the company's stock, valued at approximately $86,160. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MidWestOne Financial Group Trading Down 2.2%

Shares of MidWestOne Financial Group stock traded down $0.62 during trading hours on Tuesday, hitting $27.82. The company's stock had a trading volume of 168,849 shares, compared to its average volume of 114,499. MidWestOne Financial Group, Inc. has a twelve month low of $24.62 and a twelve month high of $34.56. The firm has a fifty day moving average of $29.05 and a 200-day moving average of $29.29. The stock has a market cap of $579.21 million, a price-to-earnings ratio of -6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.28). The firm had revenue of $61.41 million during the quarter, compared to analyst estimates of $60.60 million. Research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.2425 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.49%. MidWestOne Financial Group's dividend payout ratio is presently -23.89%.

Institutional Investors Weigh In On MidWestOne Financial Group

Several institutional investors and hedge funds have recently modified their holdings of MOFG. Two Sigma Investments LP increased its holdings in MidWestOne Financial Group by 57.7% during the 4th quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider's stock worth $1,922,000 after purchasing an additional 24,140 shares during the period. GAMMA Investing LLC increased its holdings in MidWestOne Financial Group by 16,686.9% during the 1st quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider's stock worth $646,000 after purchasing an additional 21,693 shares during the period. Northern Trust Corp increased its holdings in MidWestOne Financial Group by 29.0% during the 4th quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider's stock worth $4,813,000 after purchasing an additional 37,129 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MidWestOne Financial Group by 32.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider's stock worth $307,000 after purchasing an additional 2,575 shares during the period. Finally, Bank of America Corp DE increased its holdings in MidWestOne Financial Group by 63.8% during the 4th quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider's stock worth $723,000 after purchasing an additional 9,671 shares during the period. Hedge funds and other institutional investors own 65.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price 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 decreased their target price on MidWestOne Financial Group from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.