Vanguard Group Inc. Boosts Holdings in MidWestOne Financial Group, Inc. $MOFG

Vanguard Group Inc. lifted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 927,614 shares of the financial services provider’s stock after purchasing an additional 31,340 shares during the quarter. Vanguard Group Inc. owned 4.46% of MidWestOne Financial Group worth $27,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in MidWestOne Financial Group by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 35,276 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 4,231 shares in the last quarter. Invesco Ltd. increased its holdings in MidWestOne Financial Group by 12.9% in the 4th quarter. Invesco Ltd. now owns 24,256 shares of the financial services provider’s stock worth $706,000 after buying an additional 2,776 shares in the last quarter. Renaissance Technologies LLC increased its holdings in MidWestOne Financial Group by 202.7% in the 4th quarter. Renaissance Technologies LLC now owns 22,400 shares of the financial services provider’s stock worth $652,000 after buying an additional 15,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in MidWestOne Financial Group in the 4th quarter worth about $1,002,000. Finally, Barclays PLC raised its holdings in shares of MidWestOne Financial Group by 21.6% during the fourth quarter. Barclays PLC now owns 51,198 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 9,087 shares during the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price objective on shares of MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, MidWestOne Financial Group presently has a consensus rating of “Hold” and an average price target of $34.17.

MidWestOne Financial Group Stock Down 0.0%

MidWestOne Financial Group stock opened at $30.23 on Thursday. The stock has a market cap of $626.06 million, a PE ratio of -7.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.84. MidWestOne Financial Group, Inc. has a one year low of $24.62 and a one year high of $34.56. The stock has a fifty day moving average of $28.96 and a 200 day moving average of $28.94.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.28). The company had revenue of $61.41 million during the quarter, compared to the consensus estimate of $60.60 million. As a group, sell-side analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.2425 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.97 annualized dividend and a yield of 3.2%. MidWestOne Financial Group’s payout ratio is -23.89%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, COO Len D. Devaisher bought 1,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $28,720.00. Following the completion of the transaction, the chief operating officer owned 3,000 shares of the company’s stock, valued at approximately $86,160. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles N. Reeves bought 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $28.04 per share, for a total transaction of $140,200.00. Following the completion of the transaction, the chief executive officer directly owned 58,867 shares of the company’s stock, valued at $1,650,630.68. This represents a 9.28% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 6,800 shares of company stock worth $190,882 over the last quarter. 2.50% of the stock is owned by company insiders.

MidWestOne Financial Group 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.