First Trust Advisors LP Purchases 12,544 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

First Trust Advisors LP lifted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,043 shares of the financial services provider's stock after acquiring an additional 12,544 shares during the period. First Trust Advisors LP owned 0.35% of MidWestOne Financial Group worth $2,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MOFG. Wellington Management Group LLP raised its stake in shares of MidWestOne Financial Group by 30.8% in the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock valued at $30,473,000 after acquiring an additional 246,117 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MidWestOne Financial Group by 21.5% in the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after acquiring an additional 158,899 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of MidWestOne Financial Group by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider's stock valued at $12,617,000 after acquiring an additional 97,502 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of MidWestOne Financial Group in the 4th quarter valued at approximately $1,776,000. Finally, Jennison Associates LLC raised its stake in shares of MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock valued at $24,042,000 after acquiring an additional 47,979 shares in the last quarter. 65.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MOFG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Hovde Group boosted their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a research report on Monday, January 27th. Finally, Piper Sandler decreased their price target on MidWestOne Financial Group from $34.50 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th.

Insiders Place Their Bets

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

MidWestOne Financial Group Stock Down 0.4%

MidWestOne Financial Group stock traded down $0.12 during midday trading on Friday, reaching $28.81. The stock had a trading volume of 57,266 shares, compared to its average volume of 84,270. The firm's fifty day simple moving average is $28.18 and its 200-day simple moving average is $30.04. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The stock has a market capitalization of $599.74 million, a P/E ratio of -7.10 and a beta of 0.99. 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 (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) 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 business had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. As a group, analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business 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. This represents a $0.97 annualized dividend and a dividend yield of 3.37%. 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.