Wellington Management Group LLP Has $22.83 Million Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Wellington Management Group LLP boosted its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Free Report) by 318.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,334 shares of the financial services provider's stock after buying an additional 608,883 shares during the period. Wellington Management Group LLP owned approximately 5.08% of MidWestOne Financial Group worth $22,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MOFG. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter valued at $163,000. Renaissance Technologies LLC acquired a new position in MidWestOne Financial Group during the second quarter valued at approximately $247,000. Hsbc Holdings PLC bought a new stake in shares of MidWestOne Financial Group during the 2nd quarter worth $329,000. Quadrature Capital Ltd acquired a new stake in shares of MidWestOne Financial Group in the third quarter valued at about $353,000. Finally, GSA Capital Partners LLP bought a new stake in MidWestOne Financial Group during the 3rd quarter valued at approximately $361,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 shares were bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the purchase, the director now owns 11,293 shares of the company's stock, valued at $282,325. This trade represents a 21.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles N. Reeves acquired 7,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares of the company's stock, valued at approximately $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 9,400 shares of company stock worth $235,000. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MOFG has been the subject of a number of research analyst reports. StockNews.com lowered MidWestOne Financial Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their target price on shares of MidWestOne Financial Group from $31.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler lowered their price objective on MidWestOne Financial Group from $33.00 to $31.50 and set a "neutral" rating on the stock in a research report on Monday, October 28th.

MidWestOne Financial Group Price Performance

MOFG stock traded down $0.18 during trading on Friday, hitting $32.43. 90,459 shares of the stock traded hands, compared to its average volume of 52,467. The stock has a market cap of $673.73 million, a price-to-earnings ratio of -6.94 and a beta of 1.03. The company has a 50 day simple moving average of $30.88 and a 200 day simple moving average of $27.35. 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 one year low of $19.43 and a one year high of $34.56.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.243 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.00%. MidWestOne Financial Group's dividend payout ratio is -20.77%.

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.