American Century Companies Inc. Sells 56,818 Shares of MidWestOne Financial Group, Inc. $MOFG

American Century Companies Inc. cut its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 34.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,676 shares of the financial services provider’s stock after selling 56,818 shares during the quarter. American Century Companies Inc. owned approximately 0.53% of MidWestOne Financial Group worth $3,248,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in MidWestOne Financial Group by 12.9% in the fourth quarter. Invesco Ltd. now owns 24,256 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 2,776 shares during the period. Renaissance Technologies LLC increased its stake in shares of MidWestOne Financial Group by 202.7% during the 4th quarter. Renaissance Technologies LLC now owns 22,400 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 15,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of MidWestOne Financial Group in the 4th quarter worth approximately $1,002,000. Barclays PLC lifted its stake in MidWestOne Financial Group by 21.6% in 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. Finally, First Trust Advisors LP grew its holdings in MidWestOne Financial Group by 20.7% during the fourth quarter. First Trust Advisors LP now owns 73,043 shares of the financial services provider’s stock valued at $2,127,000 after purchasing an additional 12,544 shares during the period. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Down 0.2%

MOFG opened at $30.24 on Friday. MidWestOne Financial Group, Inc. has a 12 month low of $24.62 and a 12 month high of $34.56. The company has a market cap of $626.27 million, a PE ratio of -7.45 and a beta of 1.05. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $29.07 and a 200 day moving average of $28.89.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.28). The business had revenue of $61.41 million for the quarter, compared to analyst estimates of $60.60 million. On average, sell-side analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at MidWestOne Financial Group

In other news, CEO Charles N. Reeves purchased 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $28.04 per share, with a total value of $140,200.00. Following the completion of the acquisition, the chief executive officer owned 58,867 shares in the company, valued at $1,650,630.68. This represents a 9.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Len D. Devaisher purchased 1,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $28,720.00. Following the acquisition, the chief operating officer owned 3,000 shares in the company, valued at approximately $86,160. This represents a 50.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,800 shares of company stock worth $190,882 in the last three months. 2.50% of the stock is currently owned by insiders.

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.