Y Intercept Hong Kong Ltd Acquires Shares of 24,863 MidWestOne Financial Group, Inc. $MOFG

Y Intercept Hong Kong Ltd acquired a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,863 shares of the financial services provider’s stock, valued at approximately $715,000. Y Intercept Hong Kong Ltd owned 0.12% of MidWestOne Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MOFG. Bank of New York Mellon Corp increased its stake in MidWestOne Financial Group by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 95,396 shares of the financial services provider’s stock valued at $2,825,000 after purchasing an additional 6,926 shares during the period. New York State Common Retirement Fund increased its stake in MidWestOne Financial Group by 44.8% in the first quarter. New York State Common Retirement Fund now owns 5,820 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,800 shares during the period. Jennison Associates LLC increased its stake in MidWestOne Financial Group by 61.8% in the first quarter. Jennison Associates LLC now owns 1,335,597 shares of the financial services provider’s stock valued at $39,547,000 after purchasing an additional 509,965 shares during the period. Heartland Advisors Inc. increased its stake in MidWestOne Financial Group by 10.1% in the first quarter. Heartland Advisors Inc. now owns 110,088 shares of the financial services provider’s stock valued at $3,260,000 after purchasing an additional 10,088 shares during the period. Finally, Vanguard Group Inc. increased its stake in MidWestOne Financial Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 927,614 shares of the financial services provider’s stock valued at $27,467,000 after purchasing an additional 31,340 shares during the period. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 760 shares of MidWestOne Financial Group stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $37.91 per share, with a total value of $28,811.60. Following the completion of the acquisition, the chief executive officer directly owned 62,752 shares of the company’s stock, valued at approximately $2,378,928.32. This trade represents a 1.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 3,760 shares of company stock valued at $138,546 over the last quarter. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MOFG has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of MidWestOne Financial Group in a research note on Wednesday, October 8th. Stephens lowered shares of MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Piper Sandler dropped their price target on shares of 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. Zacks Research upgraded shares of MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MidWestOne Financial Group from $37.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.17.

MidWestOne Financial Group Trading Up 3.4%

Shares of MOFG opened at $39.20 on Thursday. 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 firm’s 50-day moving average is $30.59 and its two-hundred day moving average is $29.43. MidWestOne Financial Group, Inc. has a twelve month low of $24.62 and a twelve month high of $40.25. The firm has a market capitalization of $811.68 million, a P/E ratio of 13.95 and a beta of 1.10.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter. MidWestOne Financial Group had a net margin of 16.66% and a return on equity of 10.35%. The company had revenue of $50.10 million for the quarter. On average, research analysts predict that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. MidWestOne Financial Group’s dividend payout ratio is 34.52%.

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.