Dynamic Technology Lab Private Ltd Purchases New Position in MidWestOne Financial Group, Inc. $MOFG

Dynamic Technology Lab Private Ltd acquired a new position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the second quarter, Holdings Channel reports. The institutional investor acquired 37,343 shares of the financial services provider’s stock, valued at approximately $1,074,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FJ Capital Management LLC grew its position in MidWestOne Financial Group by 22.8% in the first quarter. FJ Capital Management LLC now owns 747,456 shares of the financial services provider’s stock worth $22,132,000 after acquiring an additional 138,959 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in MidWestOne Financial Group by 16.8% in the first 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 in the last quarter. Nuveen LLC bought a new stake in MidWestOne Financial Group in the first quarter worth $1,872,000. Jennison Associates LLC increased its position in MidWestOne Financial Group by 4.5% during the second quarter. Jennison Associates LLC now owns 1,395,623 shares of the financial services provider’s stock worth $40,152,000 after buying an additional 60,026 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in MidWestOne Financial Group by 13.2% during the second 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. Institutional investors own 65.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MOFG. Keefe, Bruyette & Woods boosted their price target on MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Zacks Research raised MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Piper Sandler lowered their price target on MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of MidWestOne Financial Group in a research report on Wednesday. Finally, Stephens downgraded shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.17.

Insider Buying and Selling

In other news, CEO Charles N. Reeves acquired 1,550 shares of MidWestOne Financial Group stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $36.67 per share, for a total transaction of $56,838.50. Following the transaction, the chief executive officer owned 60,542 shares of the company’s stock, valued at $2,220,075.14. The trade was a 2.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 3,760 shares of company stock valued at $138,546. Corporate insiders own 2.50% of the company’s stock.

MidWestOne Financial Group Trading Up 1.2%

Shares of MidWestOne Financial Group stock opened at $38.13 on Friday. MidWestOne Financial Group, Inc. has a 1 year low of $24.62 and a 1 year high of $40.25. The company’s fifty day simple moving average is $32.71 and its 200-day simple moving average is $30.30. The company has a market cap of $786.74 million, a price-to-earnings ratio of 13.57 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

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

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, December 1st. MidWestOne Financial Group’s payout ratio is currently 34.52%.

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.