MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Acquires 1,785 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) CEO Charles N. Reeves bought 1,785 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired 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 of the company's stock, valued at $1,500,315.58. This represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MidWestOne Financial Group Trading Down 0.6 %

NASDAQ:MOFG traded down $0.18 on Thursday, hitting $28.04. 84,676 shares of the stock were exchanged, compared to its average volume of 69,743. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56. The stock has a market capitalization of $582.53 million, a price-to-earnings ratio of -6.91 and a beta of 1.04. The company's 50-day moving average price is $30.36 and its 200 day moving average price is $30.14.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

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MidWestOne Financial Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, March 3rd. MidWestOne Financial Group's dividend payout ratio (DPR) is currently -23.89%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MOFG. Wellington Management Group LLP lifted its stake in MidWestOne Financial Group by 30.8% in the fourth quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider's stock valued at $30,473,000 after buying an additional 246,117 shares during the period. Vanguard Group Inc. increased its stake in shares of MidWestOne Financial Group by 21.5% in the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after acquiring an additional 158,899 shares during the last quarter. Jennison Associates LLC raised its position 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 acquiring an additional 47,979 shares during the period. Dimensional Fund Advisors LP boosted its stake in MidWestOne Financial Group by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider's stock worth $23,273,000 after acquiring an additional 70,059 shares during the last quarter. Finally, FJ Capital Management LLC grew its holdings in MidWestOne Financial Group by 0.9% during the fourth quarter. FJ Capital Management LLC now owns 608,497 shares of the financial services provider's stock valued at $17,719,000 after purchasing an additional 5,622 shares during the period. 65.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MOFG has been the subject of several research reports. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th. Hovde Group raised their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Monday, January 27th.

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.