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

Thrivent Financial for Lutherans trimmed its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 12.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 95,411 shares of the financial services provider’s stock after selling 13,333 shares during the period. Thrivent Financial for Lutherans owned approximately 0.46% of MidWestOne Financial Group worth $2,779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MidWestOne Financial Group during the 3rd quarter worth $436,000. Charles Schwab Investment Management Inc. boosted its stake in MidWestOne Financial Group by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 1,000 shares during the period. BNP Paribas Financial Markets increased its position in shares of MidWestOne Financial Group by 1,350.1% during the third quarter. BNP Paribas Financial Markets now owns 39,936 shares of the financial services provider’s stock valued at $1,139,000 after acquiring an additional 37,182 shares during the last quarter. Fourthstone LLC raised its stake in shares of MidWestOne Financial Group by 298.8% in the 3rd quarter. Fourthstone LLC now owns 100,100 shares of the financial services provider’s stock valued at $2,856,000 after acquiring an additional 75,000 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in shares of MidWestOne Financial Group by 13.1% in the 3rd quarter. Martingale Asset Management L P now owns 33,186 shares of the financial services provider’s stock worth $947,000 after acquiring an additional 3,852 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Wall Street Analyst Weigh In

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

MidWestOne Financial Group Price Performance

Shares of MOFG opened at $29.88 on Friday. 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, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $34.56. The company has a market cap of $621.98 million, a P/E ratio of -7.36 and a beta of 1.04. The firm’s 50 day moving average price is $30.57 and its 200 day moving average price is $30.20.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. On average, research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

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

Insiders Place Their Bets

In other news, CEO Charles N. Reeves acquired 1,785 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $27.98 per share, with a total value of $49,944.30. Following the transaction, the chief executive officer now owns 53,621 shares in the company, valued at approximately $1,500,315.58. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.

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.