Geode Capital Management LLC Acquires 97,502 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Geode Capital Management LLC boosted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 433,179 shares of the financial services provider's stock after buying an additional 97,502 shares during the period. Geode Capital Management LLC owned approximately 2.09% of MidWestOne Financial Group worth $12,617,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its position in shares of MidWestOne Financial Group by 5.7% in the third quarter. State Street Corp now owns 300,394 shares of the financial services provider's stock valued at $8,570,000 after purchasing an additional 16,132 shares during the last quarter. Jane Street Group LLC increased its position in MidWestOne Financial Group by 30.3% during the third quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider's stock worth $804,000 after acquiring an additional 6,545 shares during the period. Barclays PLC raised its stake in MidWestOne Financial Group by 43.1% in the 3rd quarter. Barclays PLC now owns 42,111 shares of the financial services provider's stock worth $1,202,000 after purchasing an additional 12,677 shares in the last quarter. Virtu Financial LLC acquired a new stake in MidWestOne Financial Group in the 3rd quarter worth about $261,000. Finally, Franklin Resources Inc. acquired a new position in shares of MidWestOne Financial Group during the 3rd quarter worth approximately $1,116,000. 65.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MOFG. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Hovde Group lifted their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th.

Insider Activity at MidWestOne Financial Group

In other news, CEO Charles N. Reeves purchased 1,785 shares of the business's stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the completion of the purchase, the chief executive officer now owns 53,621 shares of the company's stock, valued at $1,500,315.58. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.

MidWestOne Financial Group Price Performance

NASDAQ:MOFG traded down $0.22 during mid-day trading on Friday, reaching $28.24. The stock had a trading volume of 158,412 shares, compared to its average volume of 82,389. MidWestOne Financial Group, Inc. has a 12 month low of $19.69 and a 12 month high of $34.56. The stock has a 50-day simple moving average of $28.64 and a two-hundred day simple moving average of $30.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The stock has a market capitalization of $587.84 million, a PE ratio of -6.96 and a beta of 0.88.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, equities analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's payout ratio is -27.40%.

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.