Charles N. Funk Sells 3,000 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Charles N. Funk sold 3,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $21.40, for a total transaction of $64,200.00. Following the transaction, the director now directly owns 14,329 shares of the company’s stock, valued at approximately $306,640.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock opened at $21.44 on Thursday. The company’s 50 day moving average is $21.79 and its two-hundred day moving average is $23.01. The firm has a market cap of $337.68 million, a PE ratio of 14.89 and a beta of 0.97. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.24. MidWestOne Financial Group, Inc. has a 52-week low of $18.00 and a 52-week high of $27.78.

MidWestOne Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.243 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 4.53%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 67.36%.

Institutional Investors Weigh In On MidWestOne Financial Group

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of MidWestOne Financial Group by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock valued at $1,918,000 after buying an additional 591 shares during the period. Swiss National Bank lifted its stake in MidWestOne Financial Group by 2.5% in the third quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 800 shares during the last quarter. SG Americas Securities LLC lifted its stake in MidWestOne Financial Group by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 8,051 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 1,727 shares during the last quarter. Strs Ohio grew its holdings in MidWestOne Financial Group by 10.0% during the 3rd quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 2,100 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of 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 valued at $370,000 after purchasing an additional 2,728 shares during the last quarter. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MOFG shares. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Hovde Group decreased their price target on MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Keefe, Bruyette & Woods dropped their price objective on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. Finally, Piper Sandler cut their price objective on MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.13.

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.