MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Matthew J. Hayek Purchases 2,000 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Matthew J. Hayek acquired 2,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director now directly owns 11,293 shares in the company, valued at $282,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

MidWestOne Financial Group Trading Up 3.8 %

NASDAQ:MOFG traded up $1.04 during midday trading on Monday, hitting $28.53. 119,775 shares of the company traded hands, compared to its average volume of 41,317. The firm’s fifty day moving average is $28.01 and its 200-day moving average is $24.00. The firm has a market capitalization of $449.49 million, a P/E ratio of 19.81 and a beta of 1.02. 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 $30.51.

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). The business had revenue of $57.90 million during the quarter, compared to the consensus estimate of $45.75 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 5.27%. On average, sell-side analysts predict that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 3.41%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Hedge Funds Weigh In On MidWestOne Financial Group

Several hedge funds have recently bought and sold shares of MOFG. MidWestOne Financial Group Inc. grew its position in 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 during the last quarter. Choreo LLC bought a new position in shares of MidWestOne Financial Group during the 2nd quarter worth $584,000. Dimensional Fund Advisors LP grew its position in shares of MidWestOne Financial Group by 3.8% during the 2nd 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 in the last quarter. Sippican Capital Advisors grew its position in shares of 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 buying an additional 19,495 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of MidWestOne Financial Group during the 2nd quarter worth $388,000. Institutional investors own 65.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MOFG shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price target (up previously from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Piper Sandler increased their price target on MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.