Arrowstreet Capital Limited Partnership Buys 31,016 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Arrowstreet Capital Limited Partnership raised its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 50.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,104 shares of the financial services provider's stock after purchasing an additional 31,016 shares during the period. Arrowstreet Capital Limited Partnership owned 0.44% of MidWestOne Financial Group worth $2,682,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MOFG. JPMorgan Chase & Co. grew its stake in MidWestOne Financial Group by 77.6% in the 4th quarter. JPMorgan Chase & Co. now owns 77,150 shares of the financial services provider's stock valued at $2,247,000 after buying an additional 33,720 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of MidWestOne Financial Group by 18.8% in the fourth quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 1,462 shares during the last quarter. Vanguard Group Inc. increased its stake 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 worth $26,099,000 after purchasing an additional 158,899 shares during the period. Sei Investments Co. lifted its position in shares of MidWestOne Financial Group by 11.5% during the 4th quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider's stock worth $573,000 after purchasing an additional 2,023 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in MidWestOne Financial Group by 2.1% during the 4th quarter. American Century Companies Inc. now owns 166,494 shares of the financial services provider's stock valued at $4,848,000 after purchasing an additional 3,401 shares during the period. Institutional investors own 65.42% of the company's stock.

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the business's stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the purchase, the chief executive officer now directly owns 53,621 shares in the company, valued at approximately $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

MidWestOne Financial Group Stock Performance

MidWestOne Financial Group stock traded up $0.62 during trading hours on Tuesday, hitting $26.51. The stock had a trading volume of 6,913 shares, compared to its average volume of 78,862. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $34.56. The company has a market cap of $551.83 million, a PE ratio of -6.53 and a beta of 0.88. The company has a 50-day moving average of $29.48 and a two-hundred day moving average of $30.09. 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 issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. On average, equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Monday, March 3rd. MidWestOne Financial Group's payout ratio is -23.89%.

Wall Street Analyst Weigh In

Several brokerages have commented on MOFG. Hovde Group lifted their price target on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of MidWestOne Financial Group from a "sell" rating to a "hold" 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.