State Street Corp Has $8.57 Million Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

State Street Corp increased its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,394 shares of the financial services provider’s stock after purchasing an additional 16,132 shares during the period. State Street Corp’s holdings in MidWestOne Financial Group were worth $8,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group in the third quarter worth $163,000. Renaissance Technologies LLC bought a new position in MidWestOne Financial Group during the second quarter worth about $247,000. Hsbc Holdings PLC acquired a new position in MidWestOne Financial Group in the second quarter valued at about $329,000. Quadrature Capital Ltd bought a new stake in shares of MidWestOne Financial Group in the third quarter worth about $353,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of MidWestOne Financial Group during the third quarter worth about $361,000. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Price Performance

Shares of MOFG opened at $29.29 on Friday. The company has a 50 day moving average of $31.38 and a 200-day moving average of $28.08. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $608.50 million, a P/E ratio of -6.27 and a beta of 1.03. MidWestOne Financial Group, Inc. has a twelve month low of $19.43 and a twelve month high of $34.56.

MidWestOne Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.243 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.97 annualized dividend and a yield of 3.32%. MidWestOne Financial Group’s payout ratio is currently -20.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MOFG shares. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th. Piper Sandler lowered 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 lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves purchased 7,000 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $175,000.00. Following the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew J. Hayek acquired 2,000 shares of the business’s 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 $50,000.00. Following the acquisition, the director now owns 11,293 shares in the company, valued at $282,325. The trade was a 21.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,400 shares of company stock valued at $235,000 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

MidWestOne Financial Group 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.