MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 16,686.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,823 shares of the financial services provider’s stock after purchasing an additional 21,693 shares during the period. GAMMA Investing LLC owned 0.10% of MidWestOne Financial Group worth $646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in MidWestOne Financial Group by 16.4% during the fourth quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider’s stock worth $748,000 after buying an additional 3,617 shares during the period. Bank of New York Mellon Corp grew its stake in MidWestOne Financial Group by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider’s stock worth $2,576,000 after buying an additional 9,510 shares during the period. Proficio Capital Partners LLC purchased a new stake in MidWestOne Financial Group during the fourth quarter worth approximately $518,000. Bailard Inc. grew its stake in MidWestOne Financial Group by 3.7% during the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider’s stock worth $347,000 after buying an additional 420 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in MidWestOne Financial Group by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,987 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 15,768 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.

Analysts Set New Price Targets

MOFG has been the subject of several research reports. Piper Sandler decreased their price objective on shares of 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. Keefe, Bruyette & Woods decreased their price objective 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.

MidWestOne Financial Group Price Performance

Shares of MOFG stock opened at $27.41 on Thursday. The company has a market capitalization of $570.68 million, a PE ratio of -7.74 and a beta of 1.01. The firm has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $29.56. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. MidWestOne Financial Group, Inc. has a twelve month low of $20.41 and a twelve month high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $57.58 million during the quarter, compared to analysts’ expectations 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 company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.2425 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 3.54%. MidWestOne Financial Group’s dividend payout ratio (DPR) 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.