Raymond James Financial Inc. Invests $1 Million in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Raymond James Financial Inc. bought a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,417 shares of the financial services provider's stock, valued at approximately $1,002,000. Raymond James Financial Inc. owned 0.17% of MidWestOne Financial Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. purchased a new position in MidWestOne Financial Group during the third quarter worth about $1,116,000. Proficio Capital Partners LLC purchased a new position in shares of MidWestOne Financial Group during the 4th quarter worth approximately $518,000. Bank of New York Mellon Corp lifted its holdings in shares of MidWestOne Financial Group by 12.0% in the 4th quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider's stock valued at $2,576,000 after buying an additional 9,510 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MidWestOne Financial Group by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider's stock valued at $1,239,000 after buying an additional 15,351 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of MidWestOne Financial Group by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 56,987 shares of the financial services provider's stock worth $1,659,000 after purchasing an additional 15,768 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

Analysts Set New Price Targets

MOFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of 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 dropped their price objective on shares of 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. StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Finally, Hovde Group raised their price target on 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.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 1,785 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the completion of the transaction, the chief executive officer now owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

MidWestOne Financial Group Trading Down 0.4 %

Shares of NASDAQ MOFG traded down $0.12 during midday trading on Friday, reaching $28.81. 57,266 shares of the stock were exchanged, compared to its average volume of 84,270. The stock has a 50 day moving average price of $28.18 and a 200-day moving average price of $30.04. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $599.71 million, a P/E ratio of -7.10 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.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.73 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 firm had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. Equities research analysts expect that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.37%. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -27.40%.

About MidWestOne Financial Group

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.