Martingale Asset Management L P Grows Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Martingale Asset Management L P raised its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,186 shares of the financial services provider’s stock after buying an additional 3,852 shares during the quarter. Martingale Asset Management L P owned approximately 0.21% of MidWestOne Financial Group worth $947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MOFG. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group in the 3rd quarter valued at $163,000. Renaissance Technologies LLC purchased a new stake in shares of MidWestOne Financial Group in the second quarter worth about $247,000. Hsbc Holdings PLC acquired a new stake in shares of MidWestOne Financial Group in the second quarter valued at about $329,000. GSA Capital Partners LLP purchased a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $361,000. Finally, Bank of Montreal Can acquired a new position in MidWestOne Financial Group during the 2nd quarter worth approximately $388,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

Insiders Place Their Bets

In related news, Director Matthew J. Hayek acquired 2,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now owns 11,293 shares in the company, valued at approximately $282,325. This represents a 21.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles N. Reeves purchased 7,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 9,400 shares of company stock worth $235,000 over the last ninety days. Company insiders own 2.80% of the company’s stock.

MidWestOne Financial Group Price Performance

MOFG opened at $32.95 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56. The stock’s 50 day moving average price is $30.04 and its 200 day moving average price is $26.79. The stock has a market cap of $684.54 million, a P/E ratio of -7.06 and a beta of 1.01.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.243 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.97 annualized dividend and a yield of 2.95%. MidWestOne Financial Group’s payout ratio is -20.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research note on Monday, October 28th. StockNews.com cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.00.

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.