MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Acquires $50,000.00 in Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Matthew J. Hayek acquired 2,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now directly owns 11,293 shares in the company, valued at approximately $282,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MidWestOne Financial Group Stock Down 0.4 %

MOFG opened at $27.13 on Thursday. MidWestOne Financial Group, Inc. has a 12 month low of $19.19 and a 12 month high of $30.51. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $28.01 and its 200-day moving average price is $24.11. The company has a market cap of $427.43 million, a P/E ratio of 18.84 and a beta of 1.02.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. On average, equities analysts expect that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 3.58%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MOFG shares. Piper Sandler boosted 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 price objective (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.50.

Hedge Funds Weigh In On MidWestOne Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of MOFG. Renaissance Technologies LLC bought a new stake in shares of MidWestOne Financial Group in the second quarter worth about $247,000. BNP Paribas Financial Markets lifted its holdings in MidWestOne Financial Group by 24.8% in the 4th quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock worth $370,000 after buying an additional 2,728 shares during the period. Hsbc Holdings PLC bought a new stake in shares of MidWestOne Financial Group in the 2nd quarter worth approximately $329,000. Bank of Montreal Can purchased a new position in shares of MidWestOne Financial Group during the second quarter valued at approximately $388,000. Finally, Rhumbline Advisers increased its stake in shares of MidWestOne Financial Group by 3.0% during the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock valued at $512,000 after buying an additional 653 shares during the period. 65.42% of the stock is 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.