Proficio Capital Partners LLC Takes Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Proficio Capital Partners LLC acquired a new stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,792 shares of the financial services provider's stock, valued at approximately $518,000. Proficio Capital Partners LLC owned 0.09% of MidWestOne Financial Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at $1,116,000. Geode Capital Management LLC raised its position in MidWestOne Financial Group by 3.0% in the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider's stock worth $9,579,000 after acquiring an additional 9,787 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter worth $436,000. Jane Street Group LLC boosted its stake in shares of MidWestOne Financial Group by 30.3% during the 3rd quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider's stock worth $804,000 after acquiring an additional 6,545 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of MidWestOne Financial Group by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider's stock worth $1,239,000 after purchasing an additional 15,351 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company's stock.

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Insider Activity at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of MidWestOne Financial Group stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $27.98 per share, for a total transaction 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 approximately $1,500,315.58. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

MidWestOne Financial Group Price Performance

MOFG traded up $0.42 during trading on Thursday, reaching $29.88. 64,569 shares of the company traded hands, compared to its average volume of 72,575. MidWestOne Financial Group, Inc. has a 12-month low of $19.43 and a 12-month high of $34.56. The firm has a fifty day simple moving average of $30.57 and a 200 day simple moving average of $30.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market cap of $621.98 million, a P/E ratio of -7.36 and a beta of 1.04.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating 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 analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current 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 given a $0.2425 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.25%. MidWestOne Financial Group's dividend payout ratio is currently -23.89%.

Analyst Ratings Changes

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

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.