MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 1,350.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,936 shares of the financial services provider's stock after purchasing an additional 37,182 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.25% of MidWestOne Financial Group worth $1,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group in the third quarter worth about $163,000. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group during the second quarter worth about $247,000. GSA Capital Partners LLP acquired a new stake in MidWestOne Financial Group in the third quarter valued at approximately $361,000. Hsbc Holdings PLC acquired a new stake in MidWestOne Financial Group in the second quarter valued at approximately $329,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of MidWestOne Financial Group in the third quarter worth approximately $436,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOFG has been the topic of a number of analyst reports. StockNews.com downgraded MidWestOne Financial Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Piper Sandler reduced their price objective 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 lifted their price objective on 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 analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $29.00.

Insider Buying and Selling at MidWestOne Financial Group

In other news, Director Matthew J. Hayek bought 2,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the transaction, the director now owns 11,293 shares of the company's stock, valued at $282,325. This represents a 21.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles N. Reeves acquired 7,000 shares of the business's stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,712 shares of the company's stock, valued at $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 9,400 shares of company stock valued at $235,000 in the last ninety days. Insiders own 3.20% of the company's stock.

MidWestOne Financial Group Stock Performance

Shares of MidWestOne Financial Group stock traded up $0.03 on Tuesday, hitting $32.50. The stock had a trading volume of 129,078 shares, compared to its average volume of 51,989. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The stock has a market cap of $675.19 million, a price-to-earnings ratio of -6.96 and a beta of 1.03. The company's 50 day moving average price is $30.65 and its 200 day moving average price is $27.27.

MidWestOne Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.99%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group's dividend payout ratio is presently -20.77%.

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.