34,417 Shares in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,417 shares of the financial services provider's stock, valued at approximately $1,002,000. Raymond James Financial Inc. owned about 0.17% of MidWestOne Financial Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. acquired a new stake in MidWestOne Financial Group during the third quarter worth approximately $1,116,000. Proficio Capital Partners LLC purchased a new position in shares of MidWestOne Financial Group during the 4th quarter worth $518,000. Bank of New York Mellon Corp boosted its holdings in shares of MidWestOne Financial Group by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider's stock worth $2,576,000 after purchasing an additional 9,510 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 purchasing an additional 15,351 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in MidWestOne Financial Group by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,987 shares of the financial services provider's stock valued at $1,659,000 after purchasing an additional 15,768 shares during the last quarter. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

MidWestOne Financial Group Trading Down 0.3 %

Shares of NASDAQ MOFG traded down $0.09 during midday trading on Wednesday, hitting $28.29. The stock had a trading volume of 73,976 shares, compared to its average volume of 83,609. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The company has a market capitalization of $588.78 million, a price-to-earnings ratio of -6.97 and a beta of 0.99. The company has a fifty day moving average price of $28.26 and a 200 day moving average price of $30.05.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $58.87 million. On average, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.2425 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.43%. MidWestOne Financial Group's dividend payout ratio is currently -27.40%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 1,785 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. 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. Keefe, Bruyette & Woods lowered 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. Hovde Group increased 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 note on Monday, January 27th. Finally, StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th.

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.