Thrivent Financial for Lutherans Sells 13,333 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Thrivent Financial for Lutherans decreased its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,411 shares of the financial services provider's stock after selling 13,333 shares during the quarter. Thrivent Financial for Lutherans owned about 0.46% of MidWestOne Financial Group worth $2,779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in MidWestOne Financial Group by 6.2% in the fourth quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock valued at $24,042,000 after buying an additional 47,979 shares during the period. Wellington Management Group LLP increased its position in MidWestOne Financial Group by 318.0% in the 3rd quarter. Wellington Management Group LLP now owns 800,334 shares of the financial services provider's stock valued at $22,834,000 after buying an additional 608,883 shares in the last quarter. Geode Capital Management LLC raised its stake in MidWestOne Financial Group by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider's stock worth $9,579,000 after buying an additional 9,787 shares during the period. State Street Corp boosted its holdings in MidWestOne Financial Group by 5.7% in the third quarter. State Street Corp now owns 300,394 shares of the financial services provider's stock worth $8,570,000 after acquiring an additional 16,132 shares in the last quarter. Finally, Basswood Capital Management L.L.C. acquired a new stake in MidWestOne Financial Group in the third quarter valued at approximately $7,094,000. Institutional investors and hedge funds own 65.42% of the company's stock.

Wall Street Analyst Weigh In

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

MidWestOne Financial Group Stock Down 0.4 %

Shares of NASDAQ:MOFG traded down $0.11 during mid-day trading on Monday, hitting $29.61. 98,469 shares of the company traded hands, compared to its average volume of 76,152. The stock has a 50-day moving average price of $30.55 and a two-hundred day moving average price of $30.25. MidWestOne Financial Group, Inc. has a 12-month low of $19.43 and a 12-month high of $34.56. The stock has a market cap of $616.36 million, a P/E ratio of -7.29 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) 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.

MidWestOne Financial Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.2425 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.97 annualized dividend and a yield of 3.28%. MidWestOne Financial Group's dividend payout ratio (DPR) is -23.89%.

Insiders Place Their Bets

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was bought 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 owns 53,621 shares of the company's stock, valued at $1,500,315.58. The trade was a 3.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company's stock.

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.