Charles N. Reeves Buys 7,000 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves purchased 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $25.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

MidWestOne Financial Group Trading Down 4.6 %

MidWestOne Financial Group stock opened at $27.23 on Wednesday. The firm has a market cap of $429.01 million, a price-to-earnings ratio of 18.91 and a beta of 1.02. MidWestOne Financial Group, Inc. has a 1 year low of $19.19 and a 1 year high of $30.51. The firm’s 50 day moving average price is $28.04 and its two-hundred day moving average price is $24.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $57.90 million during the quarter, compared to analyst estimates of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. On average, research analysts predict that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.243 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.97 annualized dividend and a yield of 3.57%. MidWestOne Financial Group’s payout ratio is presently 67.36%.

Institutional Trading of MidWestOne Financial Group

A number of hedge funds have recently bought and sold shares of MOFG. MidWestOne Financial Group Inc. lifted its position in shares of MidWestOne Financial Group by 1.0% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock valued at $94,397,000 after acquiring an additional 43,172 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock worth $15,901,000 after buying an additional 25,767 shares during the period. Vanguard Group Inc. grew its holdings in shares of MidWestOne Financial Group by 2.5% during the first quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock valued at $14,796,000 after buying an additional 15,512 shares in the last quarter. American Century Companies Inc. raised its position in MidWestOne Financial Group by 8.5% during the second quarter. American Century Companies Inc. now owns 137,963 shares of the financial services provider’s stock valued at $3,103,000 after buying an additional 10,798 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in MidWestOne Financial Group by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider’s stock worth $2,016,000 after acquiring an additional 8,490 shares in the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. Piper Sandler upped their price target on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.50.

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.