MidWestOne Financial Group (NASDAQ:MOFG) CEO Charles Reeves Buys 760 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles Reeves acquired 760 shares of MidWestOne Financial Group stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of $37.91 per share, with a total value of $28,811.60. Following the completion of the acquisition, the chief executive officer directly owned 62,752 shares in the company, valued at $2,378,928.32. This represents a 1.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MidWestOne Financial Group Stock Performance

NASDAQ MOFG traded up $1.00 during trading hours on Monday, hitting $37.99. The company’s stock had a trading volume of 353,166 shares, compared to its average volume of 133,907. MidWestOne Financial Group, Inc. has a 12 month low of $24.62 and a 12 month high of $40.25. The company’s 50 day simple moving average is $30.26 and its two-hundred day simple moving average is $29.29. The company has a market cap of $786.62 million, a P/E ratio of 13.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.83.

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

MidWestOne Financial Group Dividend Announcement

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

Analysts Set New Price Targets

MOFG has been the topic of a number of research reports. Zacks Research raised shares of MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of MidWestOne Financial Group in a report on Wednesday, October 8th. Piper Sandler dropped their price objective on shares of MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Stephens downgraded shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MidWestOne Financial Group currently has an average rating of “Hold” and an average price target of $38.17.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in shares of MidWestOne Financial Group by 4.5% during the 2nd quarter. Jennison Associates LLC now owns 1,395,623 shares of the financial services provider’s stock valued at $40,152,000 after acquiring an additional 60,026 shares during the period. Vanguard Group Inc. lifted its holdings in MidWestOne Financial Group by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 927,614 shares of the financial services provider’s stock worth $27,467,000 after purchasing an additional 31,340 shares in the last quarter. FJ Capital Management LLC lifted its holdings in MidWestOne Financial Group by 2.5% in the 2nd quarter. FJ Capital Management LLC now owns 766,202 shares of the financial services provider’s stock worth $22,044,000 after purchasing an additional 18,746 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in MidWestOne Financial Group by 16.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider’s stock worth $15,744,000 after purchasing an additional 76,368 shares during the period. Finally, Geode Capital Management LLC grew its holdings in MidWestOne Financial Group by 13.2% during the 2nd quarter. Geode Capital Management LLC now owns 502,898 shares of the financial services provider’s stock valued at $14,471,000 after buying an additional 58,709 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors.

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.