Charles Schwab Investment Management Inc. Buys 15,768 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Charles Schwab Investment Management Inc. grew its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 38.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,987 shares of the financial services provider's stock after acquiring an additional 15,768 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.27% of MidWestOne Financial Group worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MOFG. Bailard Inc. boosted its holdings in MidWestOne Financial Group by 3.7% during the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider's stock worth $347,000 after purchasing an additional 420 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of MidWestOne Financial Group in the 4th quarter worth approximately $518,000. Bank of New York Mellon Corp boosted its stake in shares of MidWestOne Financial Group by 12.0% in the 4th quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider's stock worth $2,576,000 after buying an additional 9,510 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of MidWestOne Financial Group by 16.4% in the fourth quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider's stock valued at $748,000 after acquiring an additional 3,617 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of MidWestOne Financial Group by 5.0% during the fourth quarter. Empowered Funds LLC now owns 63,137 shares of the financial services provider's stock valued at $1,839,000 after acquiring an additional 3,023 shares during the last quarter. Institutional investors own 65.42% of the company's stock.

Insiders Place Their Bets

In other news, CEO Charles N. Reeves purchased 1,785 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $27.98 per share, with a total value of $49,944.30. Following the completion of the acquisition, the chief executive officer now owns 53,621 shares in the company, valued at $1,500,315.58. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company's stock.

MidWestOne Financial Group Stock Performance

Shares of MidWestOne Financial Group stock traded up $0.32 during trading hours on Wednesday, reaching $29.57. The company had a trading volume of 74,723 shares, compared to its average volume of 76,623. The firm has a market cap of $615.53 million, a PE ratio of -7.28 and a beta of 1.04. MidWestOne Financial Group, Inc. has a one year low of $19.43 and a one year high of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The business has a fifty day simple moving average of $30.51 and a 200 day simple moving average of $30.25.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share 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, analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 3.28%. The ex-dividend date of this dividend was Monday, March 3rd. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -23.89%.

Analyst Ratings Changes

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