Insider Buying: MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Purchases 1,000 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves acquired 1,000 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $21.36 per share, with a total value of $21,360.00. Following the completion of the transaction, the chief executive officer now owns 32,000 shares of the company’s stock, valued at $683,520. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MidWestOne Financial Group Price Performance

Shares of NASDAQ:MOFG traded down $0.10 during trading on Friday, hitting $21.35. 21,673 shares of the company were exchanged, compared to its average volume of 31,488. The business’s 50 day moving average is $21.89 and its 200-day moving average is $22.98. The company has a market capitalization of $336.26 million, a P/E ratio of 14.83 and a beta of 0.97. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24. MidWestOne Financial Group, Inc. has a 1-year low of $17.80 and a 1-year high of $27.78.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.243 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.97 annualized dividend and a dividend yield of 4.55%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Analyst Ratings Changes

Several research analysts have commented on MOFG shares. Keefe, Bruyette & Woods lowered their price objective on shares of MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Hovde Group lowered their price objective on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Five analysts have rated the stock with a hold rating, According to MarketBeat, MidWestOne Financial Group has an average rating of “Hold” and a consensus target price of $24.13.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sippican Capital Advisors acquired a new stake in MidWestOne Financial Group in the fourth quarter valued at $590,000. LSV Asset Management increased its holdings in MidWestOne Financial Group by 10.3% in the third quarter. LSV Asset Management now owns 158,622 shares of the financial services provider’s stock valued at $3,225,000 after purchasing an additional 14,800 shares during the period. Bailard Inc. acquired a new stake in MidWestOne Financial Group in the fourth quarter valued at $346,000. Trexquant Investment LP increased its holdings in MidWestOne Financial Group by 47.0% in the third quarter. Trexquant Investment LP now owns 31,048 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 9,929 shares during the period. Finally, Investment Advisory Services Inc. TX ADV acquired a new stake in MidWestOne Financial Group in the fourth quarter valued at $242,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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.