Emerald Mutual Fund Advisers Trust Invests $713,000 in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Emerald Mutual Fund Advisers Trust purchased a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,000 shares of the financial services provider's stock, valued at approximately $713,000. Emerald Mutual Fund Advisers Trust owned approximately 0.16% of MidWestOne Financial Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MOFG. Rhumbline Advisers increased its stake in MidWestOne Financial Group by 3.0% in the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 653 shares during the last quarter. Sippican Capital Advisors increased its stake in MidWestOne Financial Group by 1.9% in the 3rd quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider's stock valued at $1,893,000 after buying an additional 1,205 shares during the period. Empowered Funds LLC raised its holdings in MidWestOne Financial Group by 8.2% during the first quarter. Empowered Funds LLC now owns 53,206 shares of the financial services provider's stock worth $1,247,000 after purchasing an additional 4,015 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of MidWestOne Financial Group in the 3rd quarter valued at approximately $163,000. Finally, Bank of New York Mellon Corp boosted its position in shares of MidWestOne Financial Group by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider's stock worth $2,016,000 after purchasing an additional 8,490 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company's stock.

MidWestOne Financial Group Stock Up 0.1 %

MOFG traded up $0.04 during trading hours on Monday, reaching $28.44. 61,307 shares of the stock traded hands, compared to its average volume of 46,226. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $30.51. The company has a market cap of $448.58 million, a price-to-earnings ratio of -6.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.74. The firm's fifty day simple moving average is $28.54 and its two-hundred day simple moving average is $25.14.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, December 2nd. MidWestOne Financial Group's payout ratio is -20.77%.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, Director Matthew J. Hayek bought 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director now owns 11,293 shares in the company, valued at $282,325. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Matthew J. Hayek purchased 2,000 shares of the company'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 in the company, valued at approximately $282,325. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles N. Reeves purchased 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now owns 45,712 shares in the company, valued at approximately $1,142,800. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 9,400 shares of company stock valued at $235,000. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating on the stock in a research note on Monday, October 28th. StockNews.com downgraded MidWestOne Financial Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $28.00 target price (up previously from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. One equities research 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.com, MidWestOne Financial Group currently has a consensus rating of "Hold" and a consensus price target of $27.00.

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.