MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 81.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,988 shares of the financial services provider's stock after buying an additional 31,946 shares during the quarter. Franklin Resources Inc. owned about 0.34% of MidWestOne Financial Group worth $2,067,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MOFG. Bailard Inc. raised its position in MidWestOne Financial Group by 3.7% in the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 420 shares during the period. Charles Schwab Investment Management Inc. lifted its position in MidWestOne Financial Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider's stock valued at $1,176,000 after buying an additional 1,000 shares during the last quarter. Corebridge Financial Inc. boosted its stake in MidWestOne Financial Group by 18.8% during the fourth quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock worth $269,000 after buying an additional 1,462 shares during the period. SG Americas Securities LLC increased its position in shares of MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after acquiring an additional 2,014 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of MidWestOne Financial Group by 11.5% in the 4th quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 2,023 shares during the period. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 1,785 shares of MidWestOne Financial Group stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the completion of the transaction, the chief executive officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

MOFG has been the subject of several research reports. Hovde Group lifted their target price 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. StockNews.com upgraded MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th.

MidWestOne Financial Group Stock Up 1.5 %

Shares of MidWestOne Financial Group stock traded up $0.41 during trading hours on Friday, reaching $27.10. 150,302 shares of the company were exchanged, compared to its average volume of 80,763. The firm has a market cap of $564.11 million, a PE ratio of -6.67 and a beta of 0.88. 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 1 year low of $19.43 and a 1 year high of $34.56. The stock's fifty day moving average is $29.05 and its 200 day moving average is $30.03.

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

MidWestOne Financial Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.2425 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.58%. MidWestOne Financial Group's payout ratio is currently -23.89%.

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.