Invesco Ltd. Has $706,000 Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Invesco Ltd. increased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,256 shares of the financial services provider’s stock after buying an additional 2,776 shares during the quarter. Invesco Ltd. owned 0.12% of MidWestOne Financial Group worth $706,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bailard Inc. increased its holdings in shares of MidWestOne Financial Group by 3.7% in the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 420 shares in the last quarter. Corebridge Financial Inc. grew its position in shares of MidWestOne Financial Group by 18.8% in the 4th quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,462 shares during the period. SG Americas Securities LLC increased 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 worth $225,000 after purchasing an additional 2,014 shares in the last quarter. Sei Investments Co. raised its holdings in MidWestOne Financial Group by 11.5% during the 4th quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider’s stock worth $573,000 after buying an additional 2,023 shares during the period. Finally, Empowered Funds LLC lifted its stake in MidWestOne Financial Group by 5.0% in the fourth quarter. Empowered Funds LLC now owns 63,137 shares of the financial services provider’s stock valued at $1,839,000 after buying an additional 3,023 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Wall Street Analysts Forecast Growth

MOFG has been the subject of several research reports. Hovde Group increased their price objective on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Piper Sandler lowered their target price on MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Monday, January 27th.

Insider Activity at MidWestOne Financial Group

In related news, CEO Charles N. Reeves acquired 1,785 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the purchase, the chief executive officer now directly owns 53,621 shares in the company, valued at approximately $1,500,315.58. This trade represents a 3.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.50% of the company’s stock.

MidWestOne Financial Group Price Performance

NASDAQ MOFG opened at $28.61 on Friday. The firm’s 50 day moving average is $28.34 and its 200-day moving average is $30.06. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $595.55 million, a PE ratio of -7.05 and a beta of 0.88. MidWestOne Financial Group, Inc. has a 12-month low of $20.04 and a 12-month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. The firm had revenue of $57.58 million for the quarter, compared to analyst estimates of $58.87 million. Equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.39%. MidWestOne Financial Group’s payout ratio is presently -27.40%.

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.