Emerald Mutual Fund Advisers Trust Takes Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Emerald Mutual Fund Advisers Trust bought a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the third quarter, Holdings Channel reports. The institutional investor bought 25,000 shares of the financial services provider’s stock, valued at approximately $713,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MOFG. MidWestOne Financial Group Inc. grew its position in MidWestOne Financial Group by 1.0% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock worth $94,397,000 after purchasing an additional 43,172 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MidWestOne Financial Group by 3.8% during 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 last quarter. Vanguard Group Inc. increased its position in MidWestOne Financial Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock valued at $14,796,000 after acquiring an additional 15,512 shares during the period. American Century Companies Inc. raised its stake in MidWestOne Financial Group by 8.5% during the 2nd quarter. American Century Companies Inc. now owns 137,963 shares of the financial services provider’s stock valued at $3,103,000 after acquiring an additional 10,798 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in MidWestOne Financial Group by 10.5% during 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 during the period. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Insider Buying and Selling

In related news, 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, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other MidWestOne Financial Group news, Director Matthew J. Hayek bought 2,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director now owns 11,293 shares in the company, valued at approximately $282,325. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles N. Reeves purchased 7,000 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,400 shares of company stock valued at $235,000. Corporate insiders own 2.80% of the company’s stock.

MidWestOne Financial Group Trading Down 1.9 %

NASDAQ:MOFG opened at $28.40 on Monday. MidWestOne Financial Group, Inc. has a 1 year low of $19.43 and a 1 year high of $30.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a fifty day moving average price of $28.54 and a two-hundred day moving average price of $25.14. The stock has a market capitalization of $447.95 million, a price-to-earnings ratio of -6.08 and a beta of 1.01.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio (DPR) is -20.77%.

Wall Street Analyst Weigh In

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

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.