Stifel Financial Corp Sells 15,269 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Stifel Financial Corp lowered its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 18.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 67,094 shares of the financial services provider’s stock after selling 15,269 shares during the period. Stifel Financial Corp’s holdings in MidWestOne Financial Group were worth $1,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MOFG. Jennison Associates LLC acquired a new stake in MidWestOne Financial Group in the 3rd quarter worth $22,186,000. Basswood Capital Management L.L.C. bought a new stake in shares of MidWestOne Financial Group in the third quarter valued at about $7,094,000. Jacobs Asset Management LLC acquired a new stake in MidWestOne Financial Group during the third quarter worth about $5,739,000. Stieven Capital Advisors L.P. bought a new position in MidWestOne Financial Group during the third quarter valued at about $5,706,000. Finally, Curi RMB Capital LLC acquired a new position in MidWestOne Financial Group in the 3rd quarter valued at approximately $4,402,000. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Stock Down 2.4 %

NASDAQ MOFG opened at $29.83 on Friday. The stock’s 50 day simple moving average is $31.33 and its 200 day simple moving average is $27.71. MidWestOne Financial Group, Inc. has a one year low of $19.43 and a one year high of $34.56. The firm has a market cap of $619.72 million, a PE ratio of -6.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.243 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.26%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -20.77%.

Analysts Set New Price Targets

MOFG has been the topic of several analyst reports. Piper Sandler lowered their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods raised MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $39.00 in a report on Tuesday. Finally, StockNews.com cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

Insider Activity at MidWestOne Financial Group

In related news, CEO Charles N. Reeves acquired 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. This trade represents a 18.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew J. Hayek acquired 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 completion of the transaction, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. The trade was a 21.52 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 9,400 shares of company stock valued at $235,000 over the last ninety days. 2.80% of the stock is owned by 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.