MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Purchases 1,785 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves acquired 1,785 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost 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 approximately $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MidWestOne Financial Group Trading Down 4.2 %

Shares of MOFG stock traded down $1.23 during trading on Monday, hitting $27.77. 80,413 shares of the stock traded hands, compared to its average volume of 69,192. The firm has a market capitalization of $576.92 million, a P/E ratio of -6.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The firm’s fifty day moving average price is $30.42 and its 200-day moving average price is $30.18. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.2425 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.97 annualized dividend and a dividend yield of 3.49%. MidWestOne Financial Group’s dividend payout ratio is currently -23.89%.

Hedge Funds Weigh In On MidWestOne Financial Group

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of MidWestOne Financial Group by 30.8% in the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider’s stock worth $30,473,000 after acquiring an additional 246,117 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MidWestOne Financial Group by 21.5% in the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider’s stock worth $26,099,000 after acquiring an additional 158,899 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider’s stock worth $24,042,000 after acquiring an additional 47,979 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 70,059 shares during the last quarter. Finally, FJ Capital Management LLC lifted its holdings in shares of MidWestOne Financial Group by 0.9% in the 4th quarter. FJ Capital Management LLC now owns 608,497 shares of the financial services provider’s stock worth $17,719,000 after acquiring an additional 5,622 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MOFG shares. Hovde Group boosted their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. 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.