JPMorgan Chase & Co. Purchases 33,720 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

JPMorgan Chase & Co. lifted its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 77.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 77,150 shares of the financial services provider's stock after purchasing an additional 33,720 shares during the quarter. JPMorgan Chase & Co. owned 0.37% of MidWestOne Financial Group worth $2,247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MOFG. Vanguard Group Inc. increased its holdings in shares of MidWestOne Financial Group by 21.5% in the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after purchasing an additional 158,899 shares in the last quarter. Jennison Associates LLC increased its stake in shares of MidWestOne Financial Group by 6.2% in the 4th quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock valued at $24,042,000 after buying an additional 47,979 shares during the period. Geode Capital Management LLC raised its position in shares of MidWestOne Financial Group by 3.0% during the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider's stock worth $9,579,000 after acquiring an additional 9,787 shares during the last quarter. State Street Corp lifted its stake in shares of MidWestOne Financial Group by 5.7% during the third quarter. State Street Corp now owns 300,394 shares of the financial services provider's stock valued at $8,570,000 after acquiring an additional 16,132 shares during the period. Finally, American Century Companies Inc. boosted its holdings in MidWestOne Financial Group by 2.1% in the fourth quarter. American Century Companies Inc. now owns 166,494 shares of the financial services provider's stock valued at $4,848,000 after acquiring an additional 3,401 shares during the last quarter. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Trading Down 0.8 %

Shares of MidWestOne Financial Group stock traded down $0.22 during trading on Friday, hitting $28.24. 158,412 shares of the company were exchanged, compared to its average volume of 82,481. 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 firm has a market capitalization of $587.84 million, a P/E ratio of -6.96 and a beta of 0.88. The firm's fifty day moving average price is $28.64 and its 200 day moving average price is $30.08. MidWestOne Financial Group, Inc. has a 1-year low of $20.01 and a 1-year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.73. The firm had revenue of $57.58 million during the quarter, compared to analysts' expectations of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, sell-side analysts expect that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group's payout ratio is presently -27.40%.

Insiders Place Their Bets

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 1,785 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the acquisition, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports 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 raised their price objective 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 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.