Bailard Inc. Takes Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Bailard Inc. purchased a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,857 shares of the financial services provider’s stock, valued at approximately $346,000. Bailard Inc. owned approximately 0.08% of MidWestOne Financial Group at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group in the 3rd quarter valued at about $129,000. Bank of New York Mellon Corp increased its stake in MidWestOne Financial Group by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 94,360 shares of the financial services provider’s stock valued at $1,918,000 after purchasing an additional 591 shares during the last quarter. Strs Ohio raised its holdings in MidWestOne Financial Group by 10.0% during the third quarter. Strs Ohio now owns 23,100 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 2,100 shares in the last quarter. LSV Asset Management lifted its position in shares of MidWestOne Financial Group by 10.3% during the 3rd quarter. LSV Asset Management now owns 158,622 shares of the financial services provider’s stock worth $3,225,000 after buying an additional 14,800 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of MidWestOne Financial Group by 2.5% in the 3rd quarter. Swiss National Bank now owns 32,800 shares of the financial services provider’s stock valued at $667,000 after buying an additional 800 shares in the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

MidWestOne Financial Group Trading Down 2.8 %

Shares of MidWestOne Financial Group stock opened at $20.41 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $321.46 million, a P/E ratio of 14.17 and a beta of 0.95. MidWestOne Financial Group, Inc. has a 1 year low of $17.80 and a 1 year high of $27.78. The company’s fifty day moving average is $22.13 and its two-hundred day moving average is $23.00.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. MidWestOne Financial Group had a net margin of 7.78% and a return on equity of 5.52%. The business had revenue of $36.42 million during the quarter, compared to the consensus estimate of $43.40 million. Analysts forecast that MidWestOne Financial Group, Inc. will post 2.17 earnings per share for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Monday, June 3rd. MidWestOne Financial Group’s dividend payout ratio is presently 67.36%.

Insiders Place Their Bets

In related news, CEO Charles N. Reeves bought 4,447 shares of the stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $22.49 per share, for a total transaction of $100,013.03. Following the purchase, the chief executive officer now owns 38,346 shares of the company’s stock, valued at approximately $862,401.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MOFG shares. Hovde Group cut their price target on shares of MidWestOne Financial Group from $23.50 to $21.50 and set a “market perform” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods cut their target price on MidWestOne Financial Group from $28.00 to $27.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Piper Sandler began coverage on MidWestOne Financial Group in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $24.00 target price for the company. Finally, StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, MidWestOne Financial Group currently has an average rating of “Hold” and a consensus price target of $24.63.

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.