Thrivent Financial for Lutherans Acquires 31,867 Shares of MidWestOne Financial Group, Inc. $MOFG

Thrivent Financial for Lutherans increased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 34.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 125,073 shares of the financial services provider’s stock after purchasing an additional 31,867 shares during the period. Thrivent Financial for Lutherans owned approximately 0.60% of MidWestOne Financial Group worth $3,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOFG. Jennison Associates LLC lifted its holdings in shares of MidWestOne Financial Group by 4.5% during the second quarter. Jennison Associates LLC now owns 1,395,623 shares of the financial services provider’s stock worth $40,152,000 after buying an additional 60,026 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of 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 worth $27,467,000 after acquiring an additional 31,340 shares during the last quarter. FJ Capital Management LLC increased its position in MidWestOne Financial Group by 2.5% during the second quarter. FJ Capital Management LLC now owns 766,202 shares of the financial services provider’s stock worth $22,044,000 after acquiring an additional 18,746 shares during the period. Goldman Sachs Group Inc. raised its stake in MidWestOne Financial Group by 16.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider’s stock valued at $15,744,000 after purchasing an additional 76,368 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in MidWestOne Financial Group by 13.2% in the 2nd quarter. Geode Capital Management LLC now owns 502,898 shares of the financial services provider’s stock valued at $14,471,000 after purchasing an additional 58,709 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.

Insider Transactions at MidWestOne Financial Group

In related news, CEO Charles N. Reeves acquired 1,550 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was bought at an average cost of $36.67 per share, with a total value of $56,838.50. Following the completion of the acquisition, the chief executive officer owned 60,542 shares in the company, valued at $2,220,075.14. The trade was a 2.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 3,760 shares of company stock worth $138,546 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of MidWestOne Financial Group in a report on Monday, December 15th. Zacks Research raised MidWestOne Financial Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Keefe, Bruyette & Woods upped their price target on MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Stephens downgraded MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.17.

MidWestOne Financial Group Stock Performance

NASDAQ MOFG opened at $40.50 on Monday. MidWestOne Financial Group, Inc. has a twelve month low of $24.62 and a twelve month high of $42.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a market cap of $835.52 million, a P/E ratio of 14.41 and a beta of 1.06. The company’s 50-day simple moving average is $37.40 and its 200 day simple moving average is $31.95.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings data on Wednesday, June 7th. The financial services provider reported $0.88 earnings per share for the quarter. MidWestOne Financial Group had a return on equity of 10.22% and a net margin of 16.66%.The company had revenue of $50.10 million for the quarter. As a group, research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, December 1st. MidWestOne Financial Group’s dividend payout ratio is 34.52%.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.