Mendon Capital Advisors Corp Sells 9,861 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Mendon Capital Advisors Corp trimmed its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 154,284 shares of the financial services provider's stock after selling 9,861 shares during the period. MidWestOne Financial Group comprises 2.2% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 15th biggest position. Mendon Capital Advisors Corp owned approximately 0.74% of MidWestOne Financial Group worth $4,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOFG. Stifel Financial Corp grew its holdings in shares of MidWestOne Financial Group by 0.5% in the fourth quarter. Stifel Financial Corp now owns 67,439 shares of the financial services provider's stock valued at $1,964,000 after acquiring an additional 345 shares in the last quarter. MetLife Investment Management LLC boosted its position in MidWestOne Financial Group by 32.9% in the fourth quarter. MetLife Investment Management LLC now owns 11,091 shares of the financial services provider's stock worth $323,000 after purchasing an additional 2,747 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in MidWestOne Financial Group by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock valued at $23,273,000 after purchasing an additional 70,059 shares during the period. First Trust Advisors LP increased its position in shares of MidWestOne Financial Group by 20.7% during the 4th quarter. First Trust Advisors LP now owns 73,043 shares of the financial services provider's stock valued at $2,127,000 after purchasing an additional 12,544 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of MidWestOne Financial Group during the 4th quarter worth $244,000. Hedge funds and other institutional investors own 65.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MOFG. StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th. Hovde Group raised their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th.

MidWestOne Financial Group Stock Performance

MOFG traded down $0.22 during trading hours on Friday, hitting $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 1 year low of $19.69 and a 1 year high of $34.56. The company's fifty day simple moving average is $28.71 and its 200 day simple moving average is $30.05. The stock has a market cap of $587.84 million, a PE ratio of -6.96 and a beta of 0.88. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

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

MidWestOne Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.43%. MidWestOne Financial Group's dividend payout ratio is currently -23.89%.

Insider Transactions at MidWestOne Financial Group

In other news, CEO Charles N. Reeves acquired 1,785 shares of MidWestOne Financial Group stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price 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 in the company, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.50% of the company's stock.

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.