MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Acquires $175,000.00 in Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves bought 7,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $25.00 per share, with a total value of $175,000.00. Following the transaction, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

MidWestOne Financial Group Stock Performance

MOFG stock opened at $27.23 on Wednesday. The firm has a 50 day moving average of $28.04 and a two-hundred day moving average of $24.05. MidWestOne Financial Group, Inc. has a 12 month low of $19.19 and a 12 month high of $30.51. The company has a market capitalization of $429.01 million, a price-to-earnings ratio of 18.91 and a beta of 1.02. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.21.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $57.90 million during the quarter, compared to the consensus estimate of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. As a group, equities analysts anticipate that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio is presently 67.36%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a research note on Monday, July 29th. Piper Sandler upped their target price on MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.50.

Institutional Investors Weigh In On MidWestOne Financial Group

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new stake in MidWestOne Financial Group in the second quarter worth $247,000. Hsbc Holdings PLC bought a new stake in MidWestOne Financial Group in the second quarter worth $329,000. BNP Paribas Financial Markets boosted its holdings in MidWestOne Financial Group by 24.8% in the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 2,728 shares in the last quarter. Bank of Montreal Can acquired a new position in MidWestOne Financial Group during the 2nd quarter worth $388,000. Finally, Rhumbline Advisers lifted its position in MidWestOne Financial Group by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 653 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors.

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.