Choreo LLC Acquires New Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Choreo LLC purchased a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,301 shares of the financial services provider’s stock, valued at approximately $584,000.

Several other large investors have also modified their holdings of MOFG. BNP Paribas Financial Markets grew its position in shares of MidWestOne Financial Group by 24.8% in the 4th 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. Rhumbline Advisers grew its position in MidWestOne Financial Group by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 653 shares during the last quarter. Sippican Capital Advisors grew its position in MidWestOne Financial Group by 88.9% during the 1st quarter. Sippican Capital Advisors now owns 41,430 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 19,495 shares during the last quarter. Empowered Funds LLC grew its position in MidWestOne Financial Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 4,015 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 purchasing an additional 8,490 shares during the last quarter. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG opened at $28.78 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21. MidWestOne Financial Group, Inc. has a 12 month low of $19.19 and a 12 month high of $30.15. The company has a 50 day simple moving average of $27.24 and a two-hundred day simple moving average of $23.56. The stock has a market cap of $453.86 million, a price-to-earnings ratio of 19.99 and a beta of 1.02.

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

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio is currently 67.36%.

Analyst Upgrades and Downgrades

MOFG has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $28.00 target price (up previously from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Piper Sandler boosted their target price on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.38.

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.