California State Teachers Retirement System Purchases 343 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

California State Teachers Retirement System grew its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 32.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,398 shares of the financial services provider’s stock after acquiring an additional 343 shares during the period. California State Teachers Retirement System’s holdings in MidWestOne Financial Group were worth $41,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MOFG. Summit Investment Advisors Inc. lifted its stake in MidWestOne Financial Group by 38.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 541 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $211,000. Polymer Capital Management US LLC acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $222,000. Quantbot Technologies LP acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $237,000. Finally, XTX Topco Ltd acquired a new stake in shares of MidWestOne Financial Group in the fourth quarter valued at approximately $244,000. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Price Performance

MOFG stock opened at $29.23 on Friday. The firm has a market cap of $608.48 million, a price-to-earnings ratio of -7.20 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 12-month low of $20.14 and a 12-month high of $34.56. The company’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $29.72.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share 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. On average, analysts expect that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.32%. MidWestOne Financial Group’s dividend payout ratio is currently -27.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MOFG. Keefe, Bruyette & Woods decreased their price objective on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Piper Sandler cut their price target 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.

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.