Numerai GP LLC Makes New $332,000 Investment in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Numerai GP LLC purchased a new stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,405 shares of the financial services provider's stock, valued at approximately $332,000. Numerai GP LLC owned approximately 0.05% of MidWestOne Financial Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Stifel Financial Corp raised its holdings in MidWestOne Financial Group by 0.5% in the 4th quarter. Stifel Financial Corp now owns 67,439 shares of the financial services provider's stock worth $1,964,000 after acquiring an additional 345 shares during the period. Bailard Inc. grew its position in MidWestOne Financial Group by 3.7% in the 4th quarter. Bailard Inc. now owns 11,905 shares of the financial services provider's stock worth $347,000 after purchasing an additional 420 shares during the last quarter. Summit Investment Advisors Inc. grew its position in MidWestOne Financial Group by 38.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock worth $57,000 after purchasing an additional 541 shares during the last quarter. Corebridge Financial Inc. grew its position in MidWestOne Financial Group by 18.8% in the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock worth $269,000 after purchasing an additional 1,462 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in MidWestOne Financial Group by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock worth $225,000 after purchasing an additional 2,014 shares during the last quarter. Institutional investors own 65.42% of the company's stock.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 1,785 shares of the company's stock in a transaction on Monday, March 10th. The stock was acquired 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 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 is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

MidWestOne Financial Group Stock Down 0.5%

Shares of MOFG stock traded down $0.15 during trading hours on Monday, hitting $29.77. 80,244 shares of the company were exchanged, compared to its average volume of 85,345. The company has a market capitalization of $619.72 million, a PE ratio of -7.33 and a beta of 0.99. MidWestOne Financial Group, Inc. has a 52 week low of $20.04 and a 52 week high of $34.56. The business has a 50 day moving average of $28.28 and a two-hundred day moving average of $30.06. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

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 net margin of 9.79% and a return on equity of 6.54%. The business had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. Analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The company 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 $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -27.40%.

Analyst Upgrades and Downgrades

MOFG has been the topic of several research analyst reports. 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 research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on shares of 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. Piper Sandler cut 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. Finally, StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th.

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.