MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Acquires 1,000 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves bought 1,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $21.36 per share, with a total value of $21,360.00. Following the purchase, the chief executive officer now directly owns 32,000 shares of the company’s stock, valued at approximately $683,520. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MidWestOne Financial Group Stock Down 0.5 %

MOFG opened at $21.35 on Monday. The stock has a market capitalization of $336.26 million, a price-to-earnings ratio of 14.83 and a beta of 0.97. The firm has a 50 day moving average price of $21.89 and a 200-day moving average price of $23.01. MidWestOne Financial Group, Inc. has a twelve month low of $17.80 and a twelve month high of $27.78. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24.

MidWestOne Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.243 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 4.55%. MidWestOne Financial Group’s dividend payout ratio is presently 67.36%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On MidWestOne Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of MOFG. Bank of New York Mellon Corp increased its position in MidWestOne Financial Group by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock valued at $1,918,000 after acquiring an additional 591 shares during the last quarter. Swiss National Bank grew its stake in shares of MidWestOne Financial Group by 2.5% during the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 800 shares during the period. SG Americas Securities LLC increased its position in shares of MidWestOne Financial Group by 27.3% during the 4th quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 1,727 shares during the last quarter. Strs Ohio lifted its stake in shares of MidWestOne Financial Group by 10.0% in the 3rd quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 2,100 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of MidWestOne Financial Group by 24.8% in the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock worth $370,000 after buying an additional 2,728 shares during the last quarter. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

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.