Citadel Advisors LLC Trims Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Citadel Advisors LLC lowered its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,256 shares of the financial services provider’s stock after selling 6,292 shares during the quarter. Citadel Advisors LLC owned approximately 0.22% of MidWestOne Financial Group worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Basswood Capital Management L.L.C. increased its holdings in MidWestOne Financial Group by 111.1% in the fourth quarter. Basswood Capital Management L.L.C. now owns 524,803 shares of the financial services provider’s stock valued at $15,282,000 after buying an additional 276,164 shares during the last quarter. Wellington Management Group LLP lifted its holdings in MidWestOne Financial Group by 30.8% during the 4th quarter. Wellington Management Group LLP now owns 1,046,451 shares of the financial services provider’s stock worth $30,473,000 after buying an additional 246,117 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MidWestOne Financial Group by 21.5% in the 4th quarter. Vanguard Group Inc. now owns 896,274 shares of the financial services provider’s stock worth $26,099,000 after acquiring an additional 158,899 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MidWestOne Financial Group by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 433,179 shares of the financial services provider’s stock worth $12,617,000 after acquiring an additional 97,502 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased 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 acquiring an additional 70,059 shares during the last quarter. Institutional investors own 65.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles N. Reeves bought 1,785 shares of MidWestOne Financial Group stock in a transaction 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 directly owns 53,621 shares of the company’s stock, valued at approximately $1,500,315.58. This trade represents a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler dropped their target price on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Hovde Group raised their price target 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, April 28th.

MidWestOne Financial Group Stock Down 0.6%

Shares of MidWestOne Financial Group stock opened at $28.30 on Tuesday. The stock has a market capitalization of $589.12 million, a price-to-earnings ratio of -6.97 and a beta of 0.99. MidWestOne Financial Group, Inc. has a twelve month low of $20.04 and a twelve month high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $28.27 and its 200-day simple moving average is $30.00.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, hitting 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 firm had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. Equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.43%. MidWestOne Financial Group’s dividend payout ratio is currently -27.40%.

MidWestOne Financial Group Company 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.