Hotchkis & Wiley Capital Management LLC Has $6.42 Million Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Hotchkis & Wiley Capital Management LLC raised its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 88.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 224,970 shares of the financial services provider's stock after purchasing an additional 105,720 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.43% of MidWestOne Financial Group worth $6,418,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in MidWestOne Financial Group in the third quarter valued at about $163,000. Renaissance Technologies LLC bought a new position in MidWestOne Financial Group during the second quarter valued at approximately $247,000. Hsbc Holdings PLC acquired a new position in shares of MidWestOne Financial Group during the 2nd quarter worth $329,000. GSA Capital Partners LLP bought a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at $361,000. Finally, Bank of Montreal Can bought a new stake in MidWestOne Financial Group in the second quarter worth $388,000. Hedge funds and other institutional investors own 65.42% of the company's stock.

Insider Activity

In related news, Director Matthew J. Hayek acquired 2,000 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. This trade represents a 21.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles N. Reeves bought 7,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The shares were bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now owns 45,712 shares of the company's stock, valued at approximately $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 9,400 shares of company stock valued at $235,000 over the last three months. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MOFG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of MidWestOne Financial Group from $31.00 to $34.00 and gave the company a "market perform" rating in a report on Wednesday. StockNews.com lowered shares of MidWestOne Financial Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Finally, Piper Sandler decreased their target price on shares of 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. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $29.00.

MidWestOne Financial Group Price Performance

Shares of NASDAQ:MOFG traded down $0.31 on Friday, hitting $33.30. The stock had a trading volume of 148,148 shares, compared to its average volume of 51,315. The firm's 50 day moving average price is $30.35 and its 200-day moving average price is $26.96. 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 twelve month low of $19.43 and a twelve month high of $34.56. The company has a market capitalization of $691.81 million, a price-to-earnings ratio of -7.20 and a beta of 1.03.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.243 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.92%. MidWestOne Financial Group's dividend payout ratio is -20.77%.

MidWestOne Financial Group Company 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.