MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,059 shares of the financial services provider’s stock after selling 616 shares during the period. Rhumbline Advisers owned 0.12% of MidWestOne Financial Group worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Two Sigma Investments LP boosted its stake in MidWestOne Financial Group by 57.7% in the fourth quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider’s stock valued at $1,922,000 after acquiring an additional 24,140 shares in the last quarter. Northern Trust Corp boosted its stake in MidWestOne Financial Group by 29.0% in the fourth quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider’s stock valued at $4,813,000 after acquiring an additional 37,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MidWestOne Financial Group by 32.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 2,575 shares in the last quarter. GAMMA Investing LLC boosted its stake in MidWestOne Financial Group by 16,686.9% in the first quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider’s stock valued at $646,000 after acquiring an additional 21,693 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in MidWestOne Financial Group by 63.8% in the fourth quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 9,671 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MOFG. 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 reduced their target price 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 Price Performance

Shares of NASDAQ:MOFG opened at $27.81 on Friday. The company has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $29.51. MidWestOne Financial Group, Inc. has a one year low of $20.41 and a one year high of $34.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $579.00 million, a price-to-earnings ratio of -7.86 and a beta of 1.01.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly 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 firm had revenue of $57.58 million for the quarter, compared to analysts’ expectations of $58.87 million. On average, analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.2425 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.97 annualized dividend and a yield of 3.49%. 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.