MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves Buys 1,785 Shares

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Charles N. Reeves bought 1,785 shares of MidWestOne Financial Group stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now owns 53,621 shares in the company, valued at approximately $1,500,315.58. The trade was a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

MidWestOne Financial Group Trading Down 4.2 %

Shares of NASDAQ:MOFG traded down $1.23 on Monday, hitting $27.77. 80,413 shares of the company’s stock were exchanged, compared to its average volume of 69,192. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56. The stock has a market capitalization of $576.92 million, a price-to-earnings ratio of -6.84 and a beta of 1.04. The business’s 50 day simple moving average is $30.42 and its two-hundred day simple moving average is $30.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77.

MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results 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 return on equity of 6.54% and a net margin of 9.79%. Analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.97 annualized dividend and a dividend yield of 3.49%. MidWestOne Financial Group’s dividend payout ratio (DPR) is -23.89%.

Institutional Trading of MidWestOne Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in MOFG. Franklin Resources Inc. purchased a new stake in shares of MidWestOne Financial Group in the 3rd quarter worth $1,116,000. Geode Capital Management LLC lifted its holdings in shares of MidWestOne Financial Group by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider’s stock worth $9,579,000 after buying an additional 9,787 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MidWestOne Financial Group in the 3rd quarter worth $436,000. Jane Street Group LLC lifted its holdings in shares of MidWestOne Financial Group by 30.3% in the 3rd quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider’s stock worth $804,000 after buying an additional 6,545 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of MidWestOne Financial Group by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,430 shares of the financial services provider’s stock worth $1,239,000 after buying an additional 15,351 shares during the period. 65.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Hovde Group increased 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 research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th.

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.