MidWestOne Financial Group, Inc. (NASDAQ:MOFG - Get Free Report) CEO Charles N. Reeves bought 1,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were acquired at an average price of $20.72 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
MidWestOne Financial Group Stock Performance
Shares of MOFG stock opened at $20.17 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. MidWestOne Financial Group, Inc. has a one year low of $17.80 and a one year high of $27.78. The company's 50-day simple moving average is $22.00 and its 200-day simple moving average is $23.00. The stock has a market capitalization of $317.68 million, a price-to-earnings ratio of 14.01 and a beta of 0.95.
MidWestOne Financial Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.243 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.97 annualized dividend and a dividend yield of 4.82%. MidWestOne Financial Group's payout ratio is 67.36%.
Hedge Funds Weigh In On MidWestOne Financial Group
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Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in MidWestOne Financial Group in the third quarter worth about $129,000. Bank of New York Mellon Corp lifted its holdings in MidWestOne Financial Group by 0.6% in 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 acquiring an additional 591 shares during the last quarter. Strs Ohio lifted its holdings in MidWestOne Financial Group by 10.0% in the third 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 during the last quarter. LSV Asset Management lifted its holdings in MidWestOne Financial Group by 10.3% in the third quarter. LSV Asset Management now owns 158,622 shares of the financial services provider's stock worth $3,225,000 after acquiring an additional 14,800 shares during the last quarter. Finally, Swiss National Bank lifted its holdings 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. Institutional investors own 65.42% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on MOFG. Hovde Group lowered their target price on MidWestOne Financial Group from $23.50 to $21.50 and set a "market perform" rating for the company in a research note on Friday, April 26th. Keefe, Bruyette & Woods lowered their target price 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. Piper Sandler lowered their target price on MidWestOne Financial Group from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Monday. Finally, StockNews.com raised shares of MidWestOne Financial Group from a "sell" rating to a "hold" rating in a research report on Friday, January 19th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.13.
Check Out Our Latest Analysis on MOFG
MidWestOne Financial Group Company Profile
(
Get Free Report)
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.
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