Charles N. Reeves Purchases 1,000 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves purchased 1,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average price of $20.72 per share, for a total transaction of $20,720.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $621,600. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

MidWestOne Financial Group Stock Up 4.3 %

MOFG stock opened at $21.03 on Thursday. The company has a market cap of $331.22 million, a price-to-earnings ratio of 14.60 and a beta of 0.95. The company has a fifty day moving average price of $21.96 and a 200 day moving average price of $22.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.73 and a quick ratio of 0.73. MidWestOne Financial Group, Inc. has a 12 month low of $17.80 and a 12 month high of $27.78.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.243 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.62%. MidWestOne Financial Group’s payout ratio is 67.36%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating for the company in a report on Friday, April 5th. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Hovde Group cut their target price on MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, Piper Sandler decreased their target price on MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, MidWestOne Financial Group presently has a consensus rating of “Hold” and an average price target of $24.13.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MOFG. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $129,000. Bank of New York Mellon Corp raised its stake in shares of MidWestOne Financial Group by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock worth $1,918,000 after purchasing an additional 591 shares during the last quarter. Strs Ohio lifted its holdings in shares of MidWestOne Financial Group by 10.0% during the third quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 2,100 shares during the period. LSV Asset Management grew its position in MidWestOne Financial Group by 10.3% in the 3rd quarter. LSV Asset Management now owns 158,622 shares of the financial services provider’s stock valued at $3,225,000 after buying an additional 14,800 shares during the last quarter. Finally, Swiss National Bank increased its stake in MidWestOne Financial Group by 2.5% in the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock valued at $667,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors 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.