Price T Rowe Associates Inc. MD Buys Shares of 7,225 MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Price T Rowe Associates Inc. MD bought a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,225 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other large investors have also recently modified their holdings of the business. Stifel Financial Corp boosted its holdings in shares of MidWestOne Financial Group by 0.5% in the 4th quarter. Stifel Financial Corp now owns 67,439 shares of the financial services provider’s stock valued at $1,964,000 after purchasing an additional 345 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of MidWestOne Financial Group by 32.9% in the 4th quarter. MetLife Investment Management LLC now owns 11,091 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 2,747 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MidWestOne Financial Group by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 799,195 shares of the financial services provider’s stock valued at $23,273,000 after purchasing an additional 70,059 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of MidWestOne Financial Group by 20.7% in the 4th quarter. First Trust Advisors LP now owns 73,043 shares of the financial services provider’s stock valued at $2,127,000 after purchasing an additional 12,544 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of MidWestOne Financial Group in the 4th quarter valued at $244,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

Analyst Ratings Changes

MOFG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Piper Sandler dropped their price target 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. StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Hovde Group increased their price target on 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.

MidWestOne Financial Group Stock Up 0.4%

Shares of MOFG opened at $29.92 on Friday. MidWestOne Financial Group, Inc. has a 52 week low of $20.04 and a 52 week high of $34.56. The stock has a market capitalization of $622.84 million, a price-to-earnings ratio of -7.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a fifty day moving average of $28.28 and a 200-day moving average of $30.05.

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

MidWestOne Financial Group Dividend Announcement

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 given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -27.40%.

Insider Buying and Selling

In related news, CEO Charles N. Reeves bought 1,785 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by corporate insiders.

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.