MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 202.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,400 shares of the financial services provider's stock after purchasing an additional 15,000 shares during the quarter. Renaissance Technologies LLC owned 0.11% of MidWestOne Financial Group worth $652,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Polymer Capital Management US LLC acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter worth $222,000. SG Americas Securities LLC increased its holdings 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 valued at $225,000 after purchasing an additional 2,014 shares in the last quarter. Quantbot Technologies LP acquired a new stake in MidWestOne Financial Group in the 4th quarter valued at $237,000. Virtu Financial LLC purchased a new position in MidWestOne Financial Group in the third quarter valued at about $261,000. Finally, Apella Capital LLC acquired a new position in shares of MidWestOne Financial Group during the fourth quarter worth about $268,000. Hedge funds and other institutional investors own 65.42% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MOFG. 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. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased 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 research note on Monday, April 28th. Finally, Hovde Group lifted 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.

Insiders Place Their Bets

In other news, CEO Charles N. Reeves purchased 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, with a total value of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares in the company, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by company insiders.

MidWestOne Financial Group Stock Up 0.5 %

Shares of MOFG stock traded up $0.14 during mid-day trading on Wednesday, reaching $28.51. 31,094 shares of the company were exchanged, compared to its average volume of 83,236. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The business's 50 day simple moving average is $28.26 and its 200 day simple moving average is $30.05. The company has a market capitalization of $593.55 million, a P/E ratio of -7.01 and a beta of 0.99. MidWestOne Financial Group, Inc. has a fifty-two week low of $20.04 and a fifty-two week high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $57.58 million during the quarter, compared to analyst estimates of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. Research analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.40%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's payout ratio is currently -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.