MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Bought by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lifted its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,197,286 shares of the financial services provider’s stock after purchasing an additional 43,172 shares during the period. MidWestOne Financial Group comprises 17.0% of MidWestOne Financial Group Inc.’s holdings, making the stock its biggest holding. MidWestOne Financial Group Inc. owned about 0.27% of MidWestOne Financial Group worth $94,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of MidWestOne Financial Group in the second quarter worth about $247,000. Hsbc Holdings PLC purchased a new position in shares of MidWestOne Financial Group during the second quarter valued at $329,000. BNP Paribas Financial Markets raised its position in MidWestOne Financial Group by 24.8% during the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after buying an additional 2,728 shares during the period. Bank of Montreal Can purchased a new stake in MidWestOne Financial Group in the 2nd quarter worth about $388,000. Finally, Rhumbline Advisers lifted its stake in MidWestOne Financial Group by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 653 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MOFG. Piper Sandler boosted their price objective on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $28.00 price objective (up from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock opened at $27.49 on Friday. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.19 and a fifty-two week high of $30.51. The company has a market cap of $433.10 million, a PE ratio of 19.09 and a beta of 1.02. The firm has a fifty day moving average price of $28.00 and a two-hundred day moving average price of $23.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.74.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (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 during the quarter, compared to the consensus estimate of $45.75 million. Analysts expect that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, September 3rd. MidWestOne Financial Group’s payout ratio is currently 67.36%.

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.