Fourthstone LLC Has $2.86 Million Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Fourthstone LLC boosted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 298.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,100 shares of the financial services provider’s stock after purchasing an additional 75,000 shares during the period. MidWestOne Financial Group comprises approximately 0.6% of Fourthstone LLC’s investment portfolio, making the stock its 27th biggest position. Fourthstone LLC’s holdings in MidWestOne Financial Group were worth $2,856,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MOFG. BNP Paribas Financial Markets boosted its position in shares of MidWestOne Financial Group by 1,350.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,936 shares of the financial services provider’s stock worth $1,139,000 after purchasing an additional 37,182 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of MidWestOne Financial Group by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 1,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MidWestOne Financial Group during the third quarter worth approximately $436,000. Jennison Associates LLC bought a new position in shares of MidWestOne Financial Group in the 3rd quarter worth $22,186,000. Finally, Stieven Capital Advisors L.P. acquired a new stake in MidWestOne Financial Group in the 3rd quarter valued at $5,706,000. 65.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MOFG. Piper Sandler reduced their price objective on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a report on Monday, October 28th. StockNews.com lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, MidWestOne Financial Group currently has a consensus rating of “Hold” and an average price target of $27.00.

Insider Activity

In related news, Director Matthew J. Hayek bought 2,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the director now directly owns 11,293 shares of the company’s stock, valued at $282,325. This trade represents a 21.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles N. Reeves purchased 7,000 shares of the 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 $175,000.00. Following the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. This represents a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,400 shares of company stock worth $235,000. 3.20% of the stock is owned by company insiders.

MidWestOne Financial Group Stock Performance

Shares of NASDAQ MOFG traded up $0.14 during midday trading on Thursday, hitting $32.89. The company’s stock had a trading volume of 76,823 shares, compared to its average volume of 49,602. The stock has a fifty day moving average price of $29.82 and a 200 day moving average price of $26.52. The firm has a market capitalization of $683.13 million, a price-to-earnings ratio of -7.04 and a beta of 1.01. MidWestOne Financial Group, Inc. has a one year low of $19.43 and a one year high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.243 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.97 annualized dividend and a yield of 2.96%. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

MidWestOne Financial Group Company 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.