Jacobs Asset Management LLC Buys 36,355 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Jacobs Asset Management LLC grew its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,500 shares of the financial services provider’s stock after acquiring an additional 36,355 shares during the quarter. MidWestOne Financial Group comprises 4.2% of Jacobs Asset Management LLC’s holdings, making the stock its 10th largest holding. Jacobs Asset Management LLC’s holdings in MidWestOne Financial Group were worth $6,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Basswood Capital Management L.L.C. raised its holdings in MidWestOne Financial Group by 111.1% during the fourth quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider’s stock worth $15,282,000 after buying an additional 276,164 shares during the last quarter. Wellington Management Group LLP lifted its stake in MidWestOne Financial Group by 30.8% during the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider’s stock valued at $30,473,000 after acquiring an additional 246,117 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MidWestOne Financial Group by 21.5% during the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider’s stock valued at $26,099,000 after purchasing an additional 158,899 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MidWestOne Financial Group by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider’s stock worth $12,617,000 after purchasing an additional 97,502 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in MidWestOne Financial Group by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider’s stock worth $23,273,000 after purchasing an additional 70,059 shares in the last quarter. 65.42% of the stock is owned by institutional investors and hedge funds.

MidWestOne Financial Group Stock Down 0.4 %

MidWestOne Financial Group stock opened at $28.81 on Friday. The firm has a 50 day simple moving average of $28.18 and a 200 day simple moving average 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. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The firm has a market capitalization of $599.74 million, a price-to-earnings ratio of -7.10 and a beta of 0.99.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 3.37%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group’s dividend payout ratio is -27.40%.

Insider Buying and Selling

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares in the company, valued at $1,500,315.58. The trade was a 3.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MOFG has been the topic of a number of research analyst reports. Piper Sandler cut their target price 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. 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 report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, StockNews.com raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research 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.