MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Acquires 1,785 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves bought 1,785 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the purchase, the chief executive officer now owns 53,621 shares in the company, valued at $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

MidWestOne Financial Group Trading Down 4.2 %

NASDAQ MOFG opened at $27.77 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56. The stock has a market capitalization of $576.92 million, a PE ratio of -6.84 and a beta of 1.04. The firm has a 50 day moving average of $30.42 and a two-hundred day moving average of $30.18.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, research analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -23.89%.

Analyst Upgrades and Downgrades

MOFG has been the topic of several recent research reports. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. Hovde Group upped their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its holdings in shares of MidWestOne Financial Group by 38.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock valued at $57,000 after buying an additional 541 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of MidWestOne Financial Group in the 4th quarter valued at $211,000. Polymer Capital Management US LLC acquired a new position in shares of MidWestOne Financial Group in the 4th quarter valued at $222,000. SG Americas Securities LLC boosted its stake in MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 2,014 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in MidWestOne Financial Group during the 4th quarter worth $237,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

About MidWestOne Financial Group

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.