MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Buys $14,993.00 in Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Jennifer Leigh Hauschildt purchased 517 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $29.00 per share, for a total transaction of $14,993.00. Following the completion of the acquisition, the director now directly owns 9,511 shares in the company, valued at approximately $275,819. This represents a 5.75 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

MidWestOne Financial Group Stock Performance

Shares of MidWestOne Financial Group stock opened at $29.00 on Monday. The firm has a market capitalization of $602.48 million, a P/E ratio of -7.14 and a beta of 1.04. 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 has a 50 day moving average price of $30.44 and a 200 day moving average price of $30.18. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating 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 6.54%. Sell-side analysts expect that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio is presently -23.89%.

Analyst Upgrades and Downgrades

MOFG has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $34.00 to $39.00 in a report on Tuesday, December 17th. Finally, Hovde Group increased their price objective on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research report on Monday, January 27th.

Hedge Funds Weigh In On MidWestOne Financial Group

A number of institutional investors have recently bought and sold shares of MOFG. Summit Investment Advisors Inc. raised its position in MidWestOne Financial Group by 38.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock worth $57,000 after buying an additional 541 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in MidWestOne Financial Group during the 4th quarter worth approximately $211,000. Polymer Capital Management US LLC purchased a new position in MidWestOne Financial Group during the 4th quarter worth approximately $222,000. SG Americas Securities LLC raised its position in MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock worth $225,000 after buying an additional 2,014 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in MidWestOne Financial Group during the 4th quarter worth approximately $237,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

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.