Insider Buying: MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Acquires 517 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) Director Jennifer Leigh Hauschildt acquired 517 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $29.00 per share, with a total value of $14,993.00. Following the purchase, the director now directly owns 9,511 shares in the company, valued at approximately $275,819. This trade represents a 5.75 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MidWestOne Financial Group Stock Performance

MOFG traded down $0.24 during trading on Friday, hitting $29.00. The stock had a trading volume of 84,621 shares, compared to its average volume of 69,147. The firm has a market cap of $602.48 million, a PE ratio of -7.14 and a beta of 1.04. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $30.44 and a 200-day simple moving average of $30.16.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. Analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

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MidWestOne Financial Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.2425 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.97 annualized dividend and a yield of 3.34%. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -23.89%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its holdings in shares of MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider's stock worth $57,000 after purchasing an additional 541 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of MidWestOne Financial Group during the 4th quarter worth about $211,000. Polymer Capital Management US LLC bought a new position in shares of MidWestOne Financial Group during the 4th quarter worth about $222,000. SG Americas Securities LLC increased its holdings in shares of MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock worth $225,000 after purchasing an additional 2,014 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of MidWestOne Financial Group during the 4th quarter worth about $237,000. Institutional investors own 65.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MOFG shares. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Finally, Hovde Group lifted their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a research note on Monday, January 27th.

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.