Quadrature Capital Ltd Makes New Investment in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Quadrature Capital Ltd purchased a new stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 12,411 shares of the financial services provider’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in MidWestOne Financial Group during the third quarter valued at $163,000. Renaissance Technologies LLC bought a new stake in shares of MidWestOne Financial Group during the 2nd quarter valued at about $247,000. Hsbc Holdings PLC purchased a new stake in shares of MidWestOne Financial Group during the 2nd quarter valued at about $329,000. GSA Capital Partners LLP bought a new position in shares of MidWestOne Financial Group in the 3rd quarter worth approximately $361,000. Finally, Bank of Montreal Can purchased a new position in shares of MidWestOne Financial Group in the second quarter worth approximately $388,000. 65.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MOFG. StockNews.com cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price objective on shares of MidWestOne Financial Group from $31.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.00.

Insiders Place Their Bets

In related news, Director Matthew J. Hayek bought 2,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now owns 11,293 shares of the company’s stock, valued at $282,325. This represents a 21.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles N. Reeves bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $25.00 per share, with a total value of $175,000.00. Following the transaction, the chief executive officer now owns 45,712 shares of the company’s stock, valued at $1,142,800. The trade was a 18.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 9,400 shares of company stock worth $235,000. Corporate insiders own 3.20% of the company’s stock.

MidWestOne Financial Group Price Performance

Shares of NASDAQ:MOFG opened at $32.47 on Tuesday. The firm’s 50 day simple moving average is $30.55 and its two-hundred day simple moving average is $27.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market capitalization of $674.40 million, a P/E ratio of -6.95 and a beta of 1.03. MidWestOne Financial Group, Inc. has a 1-year low of $19.43 and a 1-year high of $34.56.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

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.