Raymond James Financial Inc. Acquires New Shares in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Raymond James Financial Inc. bought a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,417 shares of the financial services provider's stock, valued at approximately $1,002,000. Raymond James Financial Inc. owned 0.17% of MidWestOne Financial Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bailard Inc. lifted its stake in shares of MidWestOne Financial Group by 3.7% during the 4th 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. Charles Schwab Investment Management Inc. raised its holdings in MidWestOne Financial Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider's stock worth $1,176,000 after purchasing an additional 1,000 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of MidWestOne Financial Group by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after buying an additional 2,014 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of MidWestOne Financial Group by 5.0% in the 4th quarter. Empowered Funds LLC now owns 63,137 shares of the financial services provider's stock valued at $1,839,000 after buying an additional 3,023 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of MidWestOne Financial Group by 16.4% in the 4th quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider's stock worth $748,000 after buying an additional 3,617 shares during the last quarter. Institutional investors own 65.42% of the company's stock.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock traded down $0.11 during mid-day trading on Tuesday, reaching $26.29. 85,382 shares of the stock traded hands, compared to its average volume of 77,757. The stock has a market capitalization of $547.25 million, a PE ratio of -6.48 and a beta of 0.88. The business has a 50-day moving average of $30.02 and a 200 day moving average of $30.15. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $34.56. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last announced its quarterly earnings data 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 predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.2425 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.69%. MidWestOne Financial Group's payout ratio is -23.89%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Charles N. Reeves bought 1,785 shares of the business's stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the purchase, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.