Bank of Montreal Can Makes New Investment in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Bank of Montreal Can bought a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,238 shares of the financial services provider’s stock, valued at approximately $388,000.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in MidWestOne Financial Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock valued at $15,901,000 after buying an additional 25,767 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of MidWestOne Financial Group by 2.5% in the first 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of MidWestOne Financial Group by 8.5% in the second 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MidWestOne Financial Group by 10.5% during the second 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. Finally, Empowered Funds LLC raised its holdings in MidWestOne Financial Group by 8.2% during the first 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 in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Insider Transactions at MidWestOne Financial Group

In related news, Director Matthew J. Hayek purchased 2,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now directly owns 11,293 shares in the company, valued at $282,325. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Matthew J. Hayek purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now directly owns 11,293 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, CEO Charles N. Reeves bought 7,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the purchase, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 9,400 shares of company stock valued at $235,000 over the last quarter. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MOFG shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research note 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. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.50.

MidWestOne Financial Group Stock Up 0.1 %

Shares of NASDAQ:MOFG opened at $27.21 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. The firm has a market cap of $428.69 million, a price-to-earnings ratio of 18.90 and a beta of 1.02. The stock’s 50-day moving average price is $27.82 and its two-hundred day moving average price is $24.28. 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 issued its earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. On average, research analysts forecast that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio is presently 67.36%.

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.