Trexquant Investment LP Raises Stock Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Trexquant Investment LP boosted its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 406.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,373 shares of the financial services provider's stock after purchasing an additional 38,817 shares during the quarter. Trexquant Investment LP owned approximately 0.23% of MidWestOne Financial Group worth $1,409,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in MidWestOne Financial Group by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider's stock valued at $225,000 after acquiring an additional 2,014 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of MidWestOne Financial Group during the 4th quarter worth approximately $237,000. Virtu Financial LLC acquired a new position in shares of MidWestOne Financial Group during the 3rd quarter worth approximately $261,000. Apella Capital LLC purchased a new stake in MidWestOne Financial Group in the 4th quarter valued at approximately $268,000. Finally, Corebridge Financial Inc. grew its holdings in MidWestOne Financial Group by 18.8% during the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider's stock valued at $269,000 after buying an additional 1,462 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MOFG. StockNews.com raised MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Hovde Group lifted their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th.

Insiders Place Their Bets

In related 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 purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares of the company's stock, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.

MidWestOne Financial Group Trading Up 3.0 %

NASDAQ:MOFG traded up $0.77 during trading hours on Tuesday, reaching $26.66. 9,292 shares of the company were exchanged, compared to its average volume of 78,877. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56. The stock has a 50 day simple moving average of $29.48 and a 200 day simple moving average of $30.09. The firm has a market cap of $554.95 million, a price-to-earnings ratio of -6.59 and a beta of 0.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted 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 return on equity of 6.54% and a net margin of 9.79%. As a group, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, March 3rd. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -23.89%.

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.