17,238 Shares in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Purchased by Bank of Montreal Can

Bank of Montreal Can acquired a new position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,238 shares of the financial services provider’s stock, valued at approximately $388,000. Bank of Montreal Can owned 0.11% of MidWestOne Financial Group at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of MidWestOne Financial Group by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock valued at $15,901,000 after purchasing an additional 25,767 shares during the period. Vanguard Group Inc. boosted its position in MidWestOne Financial Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock valued at $14,796,000 after buying an additional 15,512 shares during the period. Choreo LLC bought a new position in MidWestOne Financial Group in the 2nd quarter worth about $584,000. Rhumbline Advisers increased its position 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 worth $512,000 after acquiring an additional 653 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of MidWestOne Financial Group by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider’s stock valued at $2,016,000 after acquiring an additional 8,490 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Trading Up 0.1 %

Shares of NASDAQ:MOFG opened at $27.21 on Friday. The company has a market capitalization of $428.69 million, a PE ratio of 18.90 and a beta of 1.02. MidWestOne Financial Group, Inc. has a 12-month low of $19.19 and a 12-month high of $30.51. The business has a 50 day moving average of $27.82 and a two-hundred day moving average of $24.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21.

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

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is 67.36%.

Insider Transactions at MidWestOne Financial Group

In other news, CEO Charles N. Reeves purchased 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $175,000.00. Following the transaction, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Matthew J. Hayek acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now owns 11,293 shares of the company’s stock, valued at $282,325. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles N. Reeves purchased 7,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now directly owns 45,712 shares of the company’s stock, valued at approximately $1,142,800. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,400 shares of company stock valued at $235,000. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $28.00 price target (up previously from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.50.

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.