MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 81.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,988 shares of the financial services provider’s stock after acquiring an additional 31,946 shares during the quarter. Franklin Resources Inc. owned 0.34% of MidWestOne Financial Group worth $2,067,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MOFG. SG Americas Securities LLC grew its stake in MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 2,014 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of MidWestOne Financial Group during the 4th quarter valued at approximately $237,000. Virtu Financial LLC bought a new position in shares of MidWestOne Financial Group in the 3rd quarter worth about $261,000. Apella Capital LLC acquired a new position in shares of MidWestOne Financial Group in the 4th quarter valued at about $268,000. Finally, Corebridge Financial Inc. grew its position in shares of MidWestOne Financial Group by 18.8% during the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider’s stock valued at $269,000 after buying an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th. Hovde Group boosted their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th.

MidWestOne Financial Group Price Performance

NASDAQ MOFG opened at $25.39 on Monday. The company’s 50 day simple moving average is $29.61 and its 200 day simple moving average is $30.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The firm has a market capitalization of $528.52 million, a PE ratio of -6.25 and a beta of 0.88. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.2425 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.82%. MidWestOne Financial Group’s dividend payout ratio is currently -23.89%.

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves acquired 1,785 shares of MidWestOne Financial Group stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the purchase, the chief executive officer now owns 53,621 shares in the company, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.

MidWestOne Financial Group 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.