MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Position Boosted by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,043 shares of the financial services provider’s stock after purchasing an additional 12,544 shares during the period. First Trust Advisors LP owned approximately 0.35% of MidWestOne Financial Group worth $2,127,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bailard Inc. increased its stake in MidWestOne Financial Group by 3.7% in the 4th quarter. Bailard Inc. now owns 11,905 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 420 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of MidWestOne Financial Group by 38.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 541 shares in the last quarter. Corebridge Financial Inc. raised its holdings in shares of MidWestOne Financial Group by 18.8% during the fourth quarter. Corebridge Financial Inc. now owns 9,244 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 1,462 shares during the period. SG Americas Securities LLC raised its holdings in shares of MidWestOne Financial Group by 35.3% during the fourth 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. Finally, Sei Investments Co. lifted its position in shares of MidWestOne Financial Group by 11.5% in the 4th quarter. Sei Investments Co. now owns 19,672 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 2,023 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors.

Insider Activity at MidWestOne Financial Group

In related news, CEO Charles N. Reeves bought 1,785 shares of the business’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now directly owns 53,621 shares in the company, valued at approximately $1,500,315.58. This represents a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

MidWestOne Financial Group Trading Down 0.5 %

NASDAQ MOFG opened at $28.47 on Tuesday. The company has a market capitalization of $592.63 million, a PE ratio of -7.01 and a beta of 0.99. MidWestOne Financial Group, Inc. has a 1-year low of $20.04 and a 1-year high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $28.30 and its 200-day simple moving average is $30.06.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The business had revenue of $57.58 million during the quarter, compared to analysts’ expectations of $58.87 million. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. As a group, sell-side analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.2425 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.41%. MidWestOne Financial Group’s dividend payout ratio is currently -27.40%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MOFG shares. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Hovde Group raised their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler dropped their target price on MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 28th.

MidWestOne Financial Group 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.