Dimensional Fund Advisors LP Acquires 70,059 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Dimensional Fund Advisors LP lifted its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 799,195 shares of the financial services provider's stock after acquiring an additional 70,059 shares during the period. Dimensional Fund Advisors LP owned approximately 3.85% of MidWestOne Financial Group worth $23,273,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its stake in shares of MidWestOne Financial Group by 38.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock valued at $57,000 after buying an additional 541 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at about $222,000. SG Americas Securities LLC grew its stake in shares of MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after buying an additional 2,014 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at about $237,000. Finally, XTX Topco Ltd bought a new position in shares of MidWestOne Financial Group during the fourth quarter valued at about $244,000. 65.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MOFG. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Hovde Group raised their target price on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on 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. Finally, Piper Sandler lowered 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.

Insider Activity

In other news, CEO Charles N. Reeves bought 1,785 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the purchase, the chief executive officer now 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.50% of the company's stock.

MidWestOne Financial Group Stock Up 3.2%

NASDAQ MOFG traded up $0.93 during mid-day trading on Monday, reaching $29.74. The stock had a trading volume of 6,587 shares, compared to its average volume of 101,123. 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 cap of $619.08 million, a PE ratio of -7.34 and a beta of 0.99. The company has a fifty day moving average price of $28.18 and a 200 day moving average price of $30.04. 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 (EPS) for the quarter, hitting the consensus estimate of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The company had revenue of $57.58 million for the quarter, compared to analysts' expectations of $58.87 million. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's payout ratio 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.