LSV Asset Management Sells 3,700 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

LSV Asset Management cut its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,922 shares of the financial services provider’s stock after selling 3,700 shares during the period. LSV Asset Management owned about 0.99% of MidWestOne Financial Group worth $4,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in MidWestOne Financial Group by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock worth $1,918,000 after purchasing an additional 591 shares during the last quarter. Swiss National Bank grew its position in MidWestOne Financial Group by 2.5% during the third quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock valued at $667,000 after buying an additional 800 shares during the period. Trexquant Investment LP raised its position in MidWestOne Financial Group by 47.0% in the third quarter. Trexquant Investment LP now owns 31,048 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 9,929 shares during the period. Strs Ohio boosted its stake in MidWestOne Financial Group by 10.0% in the third quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Sippican Capital Advisors bought a new position in shares of MidWestOne Financial Group during the 4th quarter valued at approximately $590,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Stock Up 1.7 %

MOFG stock opened at $21.44 on Thursday. MidWestOne Financial Group, Inc. has a twelve month low of $18.00 and a twelve month high of $27.78. The firm has a market capitalization of $337.68 million, a PE ratio of 14.89 and a beta of 0.97. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $23.01.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Monday, June 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Piper Sandler cut their target price on shares of MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, Hovde Group lowered their price target on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, MidWestOne Financial Group presently has a consensus rating of “Hold” and a consensus target price of $24.13.

Insiders Place Their Bets

In related news, Director Charles N. Funk sold 3,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $21.40, for a total value of $64,200.00. Following the sale, the director now owns 14,329 shares in the company, valued at $306,640.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Charles N. Reeves purchased 4,447 shares of the company’s stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $22.49 per share, with a total value of $100,013.03. Following the completion of the purchase, the chief executive officer now directly owns 38,346 shares in the company, valued at approximately $862,401.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles N. Funk sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $21.40, for a total value of $64,200.00. Following the transaction, the director now directly owns 14,329 shares in the company, valued at $306,640.60. The disclosure for this sale can be found here. Insiders have bought 6,447 shares of company stock worth $142,093 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.