MidWestOne Financial Group (NASDAQ:MOFG) CEO Charles Reeves Acquires 1,450 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles Reeves acquired 1,450 shares of the company’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $36.48 per share, for a total transaction of $52,896.00. Following the purchase, the chief executive officer directly owned 61,992 shares of the company’s stock, valued at approximately $2,261,468.16. This trade represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

MidWestOne Financial Group Trading Up 1.7%

Shares of NASDAQ:MOFG opened at $36.99 on Friday. The stock has a market cap of $766.06 million, a PE ratio of 13.16 and a beta of 1.03. The business has a 50 day moving average of $30.10 and a 200-day moving average of $29.17. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. MidWestOne Financial Group, Inc. has a 12-month low of $24.62 and a 12-month high of $40.25.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter. MidWestOne Financial Group had a net margin of 16.66% and a return on equity of 10.35%. The firm had revenue of $50.10 million during the quarter. As a group, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, December 1st. MidWestOne Financial Group’s dividend payout ratio is presently 34.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MOFG. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of MidWestOne Financial Group during the 3rd quarter worth about $471,000. Apella Capital LLC acquired a new position in MidWestOne Financial Group during the 3rd quarter worth approximately $253,000. Thrivent Financial for Lutherans boosted its holdings in MidWestOne Financial Group by 34.2% in the second quarter. Thrivent Financial for Lutherans now owns 125,073 shares of the financial services provider’s stock worth $3,598,000 after acquiring an additional 31,867 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in MidWestOne Financial Group by 286.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,524 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 2,613 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in shares of MidWestOne Financial Group during the second quarter valued at approximately $434,000. 65.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MOFG. Zacks Research raised shares of MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MidWestOne Financial Group in a research note on Wednesday, October 8th. Finally, Stephens cut MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.17.

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.