MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Position Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 799,195 shares of the financial services provider’s stock after purchasing an additional 70,059 shares during the period. Dimensional Fund Advisors LP owned 3.85% of MidWestOne Financial Group worth $23,273,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. increased its holdings in MidWestOne Financial Group by 38.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock valued at $57,000 after buying an additional 541 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in shares of MidWestOne Financial Group in the 4th quarter worth approximately $222,000. SG Americas Securities LLC increased its holdings in shares of MidWestOne Financial Group by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 2,014 shares during 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. Finally, XTX Topco Ltd bought a new position in MidWestOne Financial Group during the fourth quarter worth $244,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Trading Down 0.4 %

Shares of NASDAQ:MOFG opened at $28.37 on Wednesday. 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’s 50-day moving average price is $28.26 and its 200 day moving average price is $30.05. The company has a market cap of $590.55 million, a PE ratio of -6.99 and a beta of 0.99. MidWestOne Financial Group, Inc. has a fifty-two week low of $20.04 and a fifty-two week high of $34.56.

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

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, June 2nd. MidWestOne Financial Group’s dividend payout ratio (DPR) is -27.40%.

Analyst Upgrades and Downgrades

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

Insider Activity at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 1,785 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price 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. This represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

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.