Heartland Advisors Inc. Acquires 35,000 Shares of MidWestOne Financial Group, Inc. $MOFG

Heartland Advisors Inc. grew its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,616 shares of the financial services provider’s stock after acquiring an additional 35,000 shares during the period. Heartland Advisors Inc. owned 0.85% of MidWestOne Financial Group worth $4,968,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC lifted its holdings in MidWestOne Financial Group by 4.5% during the 2nd quarter. Jennison Associates LLC now owns 1,395,623 shares of the financial services provider’s stock worth $40,152,000 after purchasing an additional 60,026 shares in the last quarter. Vanguard Group Inc. increased its position in shares of MidWestOne Financial Group by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,030,102 shares of the financial services provider’s stock valued at $29,142,000 after buying an additional 15,065 shares during the period. FJ Capital Management LLC lifted its holdings in shares of MidWestOne Financial Group by 2.5% in the second quarter. FJ Capital Management LLC now owns 766,202 shares of the financial services provider’s stock worth $22,044,000 after buying an additional 18,746 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of MidWestOne Financial Group by 16.8% in the first quarter. Goldman Sachs Group Inc. now owns 531,724 shares of the financial services provider’s stock valued at $15,744,000 after acquiring an additional 76,368 shares during the period. Finally, Geode Capital Management LLC grew its stake in MidWestOne Financial Group by 13.2% during the second quarter. Geode Capital Management LLC now owns 502,898 shares of the financial services provider’s stock valued at $14,471,000 after acquiring an additional 58,709 shares in the last quarter. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock opened at $48.00 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $990.24 million, a PE ratio of 17.08 and a beta of 1.07. The business’s 50-day moving average price is $42.98 and its 200-day moving average price is $36.18. MidWestOne Financial Group, Inc. has a 12 month low of $24.62 and a 12 month high of $49.69.

MidWestOne Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, January 16th. MidWestOne Financial Group’s payout ratio is presently 34.52%.

Wall Street Analyst Weigh In

MOFG has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of MidWestOne Financial Group in a research note on Monday, December 29th. Stephens downgraded MidWestOne Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on MidWestOne Financial Group from $37.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.50.

MidWestOne Financial Group Company Profile

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.