MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 2.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 108,744 shares of the financial services provider’s stock after selling 2,755 shares during the period. Thrivent Financial for Lutherans owned about 0.69% of MidWestOne Financial Group worth $3,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its position in MidWestOne Financial Group by 5.2% during the third quarter. Empowered Funds LLC now owns 60,114 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 2,948 shares in the last quarter. Curi RMB Capital LLC purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at approximately $4,402,000. GSA Capital Partners LLP purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at approximately $361,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at $713,000. Finally, Sippican Capital Advisors boosted its holdings in MidWestOne Financial Group by 1.9% during the third quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock worth $1,893,000 after buying an additional 1,205 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MOFG shares. StockNews.com downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Piper Sandler cut their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $28.00 price target (up previously from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Insider Buying and Selling

In other MidWestOne Financial Group news, Director Matthew J. Hayek purchased 2,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the director now owns 11,293 shares in the company, valued at approximately $282,325. This represents a 21.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles N. Reeves acquired 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $25.00 per share, with a total value of $175,000.00. Following the purchase, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. This represents a 18.08 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 9,400 shares of company stock worth $235,000. Insiders own 3.20% of the company’s stock.

MidWestOne Financial Group Stock Performance

MOFG opened at $33.26 on Tuesday. The firm’s fifty day simple moving average is $29.60 and its two-hundred day simple moving average is $26.31. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56. The company has a market cap of $690.81 million, a price-to-earnings ratio of -7.20 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group’s payout ratio is -20.77%.

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.