200,000 Shares in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Bought by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. acquired a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 200,000 shares of the financial services provider’s stock, valued at approximately $5,706,000. Stieven Capital Advisors L.P. owned about 1.27% of MidWestOne Financial Group at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group in the third quarter valued at $163,000. Renaissance Technologies LLC bought a new stake in MidWestOne Financial Group in the second quarter valued at $247,000. Hsbc Holdings PLC bought a new stake in MidWestOne Financial Group in the second quarter valued at $329,000. GSA Capital Partners LLP bought a new stake in MidWestOne Financial Group in the third quarter valued at $361,000. Finally, Bank of Montreal Can bought a new stake in MidWestOne Financial Group in the second quarter valued at $388,000. 65.42% of the stock is currently owned by institutional investors.

MidWestOne Financial Group Trading Down 0.4 %

Shares of MOFG opened at $32.38 on Friday. The business’s 50-day moving average price is $29.14 and its 200 day moving average price is $25.88. The stock has a market capitalization of $672.53 million, a P/E ratio of -6.93 and a beta of 1.01. MidWestOne Financial Group, Inc. has a 1-year low of $19.43 and a 1-year high of $34.00. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.243 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.00%. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

Insider Buying and Selling

In other news, Director Matthew J. Hayek purchased 2,000 shares of MidWestOne Financial Group stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now directly owns 11,293 shares in the company, valued at $282,325. This represents a 21.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles N. Reeves purchased 7,000 shares of MidWestOne Financial Group 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 $175,000.00. Following the completion of the acquisition, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. The trade was a 18.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,400 shares of company stock valued at $235,000. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MOFG has been the topic of a number of research analyst reports. StockNews.com lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $28.00 price target (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Finally, Piper Sandler lowered their price target 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 equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.00.

MidWestOne Financial Group 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.