MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock Holdings Decreased by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. trimmed its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,165,124 shares of the financial services provider's stock after selling 32,162 shares during the period. MidWestOne Financial Group makes up approximately 16.4% of MidWestOne Financial Group Inc.'s holdings, making the stock its biggest holding. MidWestOne Financial Group Inc. owned 26.41% of MidWestOne Financial Group worth $118,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MOFG. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $436,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of MidWestOne Financial Group during the third quarter worth $713,000. Stieven Capital Advisors L.P. purchased a new stake in shares of MidWestOne Financial Group during the third quarter valued at $5,706,000. Dimensional Fund Advisors LP increased its position in shares of MidWestOne Financial Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider's stock valued at $15,901,000 after acquiring an additional 25,767 shares during the period. Finally, Curi RMB Capital LLC acquired a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at $4,402,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. This represents a 18.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew J. Hayek bought 2,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, with a total value of $50,000.00. Following the acquisition, the director now directly owns 11,293 shares of the company's stock, valued at approximately $282,325. The trade was a 21.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 9,400 shares of company stock worth $235,000 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock traded up $0.04 on Tuesday, hitting $32.51. The company had a trading volume of 105,030 shares, compared to its average volume of 51,846. The firm has a market cap of $675.23 million, a P/E ratio of -6.95 and a beta of 1.03. MidWestOne Financial Group, Inc. has a twelve month low of $19.43 and a twelve month high of $34.56. The company has a 50-day moving average price of $30.55 and a 200-day moving average price of $27.20. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group's payout ratio is currently -20.77%.

Analysts Set New Price Targets

Several research firms have weighed in on MOFG. StockNews.com downgraded MidWestOne Financial Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. Piper Sandler dropped their target price on MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating on the stock in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of MidWestOne Financial Group from $31.00 to $34.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $29.00.

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.