Stieven Capital Advisors L.P. Acquires Shares of 200,000 MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Stieven Capital Advisors L.P. acquired a new position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 200,000 shares of the financial services provider's stock, valued at approximately $5,706,000. Stieven Capital Advisors L.P. owned approximately 1.27% of MidWestOne Financial Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MOFG. SG Americas Securities LLC purchased a new stake in shares of MidWestOne Financial Group in the 3rd quarter valued at about $163,000. Renaissance Technologies LLC bought a new position in shares of MidWestOne Financial Group in the second quarter worth approximately $247,000. Hsbc Holdings PLC purchased a new stake in MidWestOne Financial Group in the second quarter valued at approximately $329,000. GSA Capital Partners LLP bought a new stake in MidWestOne Financial Group during the third quarter valued at approximately $361,000. Finally, Bank of Montreal Can purchased a new position in MidWestOne Financial Group in the 2nd quarter worth approximately $388,000. Institutional investors own 65.42% of the company's stock.

Analysts Set New Price Targets

MOFG has been the topic of several research reports. StockNews.com cut shares of MidWestOne Financial Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Piper Sandler dropped their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $28.00 price objective (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.00.

MidWestOne Financial Group Trading Down 0.4 %

Shares of MOFG stock traded down $0.13 on Friday, hitting $32.38. 63,927 shares of the company's stock traded hands, compared to its average volume of 90,986. The stock has a market capitalization of $672.53 million, a price-to-earnings ratio of -6.93 and a beta of 1.01. The company's fifty day simple moving average is $29.14 and its 200 day simple moving average is $25.88. MidWestOne Financial Group, Inc. has a one year low of $19.43 and a one year high of $34.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.243 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.97 annualized dividend and a yield of 3.00%. MidWestOne Financial Group's payout ratio is -20.77%.

Insider Activity

In other news, Director Matthew J. Hayek acquired 2,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were 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 owns 11,293 shares of the company's stock, valued at $282,325. The trade was a 21.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares of the company's stock, valued at approximately $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 9,400 shares of company stock valued at $235,000. 2.80% of the stock is currently owned by insiders.

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.