Assenagon Asset Management S.A. Makes New $1.78 Million Investment in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Assenagon Asset Management S.A. acquired a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 60,999 shares of the financial services provider’s stock, valued at approximately $1,776,000.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in MidWestOne Financial Group in the 3rd quarter worth approximately $1,116,000. MidWestOne Financial Group Inc. lifted its stake in MidWestOne Financial Group by 1.0% in the second quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock worth $94,397,000 after acquiring an additional 43,172 shares during the period. Geode Capital Management LLC boosted its holdings in MidWestOne Financial Group by 3.0% in the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider’s stock valued at $9,579,000 after acquiring an additional 9,787 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MidWestOne Financial Group during the 3rd quarter valued at $436,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in MidWestOne Financial Group in the 3rd quarter worth $713,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Up 0.2 %

Shares of MidWestOne Financial Group stock opened at $30.19 on Friday. MidWestOne Financial Group, Inc. has a twelve month low of $19.43 and a twelve month high of $34.56. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $30.97 and its 200 day moving average is $29.11. The company has a market cap of $627.20 million, a price-to-earnings ratio of -6.46 and a beta of 1.05.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping 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 5.13%. Research analysts anticipate that MidWestOne Financial Group, Inc. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MOFG shares. Piper Sandler reduced their target price on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods raised MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. Finally, StockNews.com lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

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.