Charles N. Reeves Acquires 7,000 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves purchased 7,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the acquisition, the chief executive officer now directly owns 45,712 shares in the company, valued at approximately $1,142,800. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

MidWestOne Financial Group Stock Up 3.8 %

Shares of MOFG traded up $1.04 during midday trading on Monday, reaching $28.53. 119,775 shares of the stock were exchanged, compared to its average volume of 41,317. MidWestOne Financial Group, Inc. has a 52 week low of $19.19 and a 52 week high of $30.51. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $28.01 and its two-hundred day moving average is $24.00. The company has a market capitalization of $449.49 million, a P/E ratio of 19.50 and a beta of 1.02.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $45.75 million. On average, sell-side analysts anticipate that MidWestOne Financial Group, Inc. will post 2.16 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Tuesday, September 3rd. MidWestOne Financial Group’s payout ratio is currently 67.36%.

Wall Street Analyst Weigh In

MOFG has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price target (up previously from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Piper Sandler increased their target price on MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.50.

Institutional Investors Weigh In On MidWestOne Financial Group

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group in the second quarter worth about $247,000. BNP Paribas Financial Markets boosted its holdings in MidWestOne Financial Group by 24.8% in the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 2,728 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in MidWestOne Financial Group in the second quarter worth about $329,000. Bank of Montreal Can acquired a new stake in MidWestOne Financial Group in the second quarter worth about $388,000. Finally, Rhumbline Advisers boosted its holdings in MidWestOne Financial Group by 3.0% in 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 in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

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.