Proficio Capital Partners LLC Invests $518,000 in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Proficio Capital Partners LLC acquired a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the fourth quarter, HoldingsChannel reports. The firm acquired 17,792 shares of the financial services provider’s stock, valued at approximately $518,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 2,014 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of MidWestOne Financial Group in the third quarter valued at approximately $261,000. Apella Capital LLC bought a new stake in shares of MidWestOne Financial Group in the fourth quarter worth $268,000. Bailard Inc. boosted its holdings in MidWestOne Financial Group by 3.7% during the fourth quarter. Bailard Inc. now owns 11,905 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 420 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in MidWestOne Financial Group in the third quarter valued at $353,000. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock opened at $29.50 on Monday. The company has a fifty day moving average price of $30.50 and a two-hundred day moving average price of $30.18. MidWestOne Financial Group, Inc. has a one year low of $19.43 and a one year high of $34.56. The stock has a market cap of $612.86 million, a P/E ratio of -7.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

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

MidWestOne Financial Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.2425 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.97 annualized dividend and a dividend yield of 3.29%. MidWestOne Financial Group’s dividend payout ratio is currently -23.89%.

Analyst Ratings Changes

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

Insider Transactions at MidWestOne Financial Group

In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 1,785 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $27.98 per share, with a total value 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 SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

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.