Wellington Management Group LLP Has $30.47 Million Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Wellington Management Group LLP boosted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 30.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,046,451 shares of the financial services provider's stock after buying an additional 246,117 shares during the period. Wellington Management Group LLP owned 5.04% of MidWestOne Financial Group worth $30,473,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MOFG. Vanguard Group Inc. boosted its holdings in shares of MidWestOne Financial Group by 21.5% in the fourth quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider's stock valued at $26,099,000 after acquiring an additional 158,899 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in MidWestOne Financial Group in the fourth quarter worth approximately $1,776,000. Jennison Associates LLC lifted its position in MidWestOne Financial Group by 6.2% in the fourth quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider's stock worth $24,042,000 after purchasing an additional 47,979 shares during the period. Franklin Resources Inc. bought a new position in MidWestOne Financial Group during the 3rd quarter valued at $1,116,000. Finally, BNP Paribas Financial Markets increased its position in shares of MidWestOne Financial Group by 1,350.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,936 shares of the financial services provider's stock valued at $1,139,000 after purchasing an additional 37,182 shares during the period. Institutional investors and hedge funds own 65.42% of the company's stock.

Insider Activity

In related news, CEO Charles N. Reeves purchased 1,785 shares of MidWestOne Financial Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 53,621 shares of the company's stock, valued at $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

MidWestOne Financial Group Trading Down 1.9 %

Shares of MOFG traded down $0.50 during midday trading on Friday, hitting $25.39. The stock had a trading volume of 129,696 shares, compared to its average volume of 78,704. The business has a 50-day simple moving average of $29.61 and a two-hundred day simple moving average of $30.08. The firm has a market cap of $528.52 million, a P/E ratio of -6.25 and a beta of 0.88. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping 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%. As a group, equities analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.2425 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.97 annualized dividend and a dividend yield of 3.82%. MidWestOne Financial Group's dividend payout ratio (DPR) is presently -23.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MOFG. Hovde Group upped their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a "market perform" rating in a report on Monday, January 27th. StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th.

About MidWestOne Financial Group

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.