MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 12.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 95,411 shares of the financial services provider’s stock after selling 13,333 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MidWestOne Financial Group were worth $2,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bailard Inc. lifted its holdings in shares of MidWestOne Financial Group by 3.7% in the 4th quarter. Bailard Inc. now owns 11,905 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 420 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MidWestOne Financial Group by 2.5% in 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 during the period. SG Americas Securities LLC increased its holdings in shares of MidWestOne Financial Group by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 2,014 shares during the period. Empowered Funds LLC raised its position in MidWestOne Financial Group by 5.0% in the 4th quarter. Empowered Funds LLC now owns 63,137 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 3,023 shares during the last quarter. Finally, Rhumbline Advisers grew its position in MidWestOne Financial Group by 16.4% during the 4th quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 3,617 shares during the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Trading Up 1.4 %

Shares of MidWestOne Financial Group stock opened at $29.88 on Friday. The firm has a market cap of $621.98 million, a price-to-earnings ratio of -7.36 and a beta of 1.04. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56. The company’s 50-day simple moving average is $30.57 and its 200-day simple moving average is $30.20. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. As a group, equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Monday, March 3rd. MidWestOne Financial Group’s payout ratio is -23.89%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 1,785 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the acquisition, the chief executive officer now directly owns 53,621 shares of the company’s stock, valued at $1,500,315.58. This trade represents a 3.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MOFG shares. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Hovde Group upped their price target on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th.

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.