MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Purchases 1,000 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves bought 1,000 shares of the stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $21.36 per share, with a total value of $21,360.00. Following the completion of the purchase, the chief executive officer now owns 32,000 shares of the company’s stock, valued at $683,520. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

MidWestOne Financial Group Trading Down 0.5 %

NASDAQ:MOFG opened at $21.35 on Friday. The company has a market capitalization of $336.26 million, a P/E ratio of 14.83 and a beta of 0.97. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.24. MidWestOne Financial Group, Inc. has a 12 month low of $17.80 and a 12 month high of $27.78. The firm has a fifty day simple moving average of $21.89 and a 200-day simple moving average of $22.98.

MidWestOne Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 dividend on an annualized basis and a yield of 4.55%. MidWestOne Financial Group’s dividend payout ratio is currently 67.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MOFG. Piper Sandler reduced their price target on MidWestOne Financial Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Hovde Group reduced their target price on MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods dropped their price target on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.13.

Institutional Trading of MidWestOne Financial Group

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group in the third quarter worth about $129,000. Trexquant Investment LP increased its holdings in MidWestOne Financial Group by 47.0% in the 3rd quarter. Trexquant Investment LP now owns 31,048 shares of the financial services provider’s stock worth $631,000 after buying an additional 9,929 shares during the period. Bailard Inc. purchased a new position in MidWestOne Financial Group during the 4th quarter worth approximately $346,000. Swiss National Bank lifted its stake in MidWestOne Financial Group by 2.5% during the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock valued at $667,000 after acquiring an additional 800 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in MidWestOne Financial Group by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock valued at $1,918,000 after acquiring an additional 591 shares during the period. Hedge funds and other institutional investors own 65.42% of the company’s stock.

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.