MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,094 shares of the financial services provider’s stock after selling 15,269 shares during the quarter. Stifel Financial Corp owned about 0.43% of MidWestOne Financial Group worth $1,914,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MOFG. Bank of New York Mellon Corp lifted its holdings in MidWestOne Financial Group by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,619 shares of the financial services provider’s stock valued at $2,016,000 after acquiring an additional 8,490 shares during the last quarter. Rhumbline Advisers lifted its stake in MidWestOne Financial Group by 3.0% during the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 653 shares during the last quarter. Choreo LLC bought a new stake in shares of MidWestOne Financial Group during the 2nd quarter worth $584,000. American Century Companies Inc. raised its position in shares of MidWestOne Financial Group by 8.5% during the second quarter. American Century Companies Inc. now owns 137,963 shares of the financial services provider’s stock worth $3,103,000 after purchasing an additional 10,798 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of MidWestOne Financial Group by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock valued at $15,901,000 after purchasing an additional 25,767 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MOFG shares. 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 upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $39.00 in a research report on Tuesday. Finally, Piper Sandler dropped 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.

MidWestOne Financial Group Stock Down 2.4 %

Shares of MidWestOne Financial Group stock opened at $29.83 on Friday. The firm has a market cap of $619.72 million, a price-to-earnings ratio of -6.39 and a beta of 1.03. The stock has a 50-day simple moving average of $31.33 and a 200-day simple moving average of $27.71. MidWestOne Financial Group, Inc. has a 52-week low of $19.43 and a 52-week high of $34.56. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is -20.77%.

Insider Transactions at MidWestOne Financial Group

In related news, Director Matthew J. Hayek purchased 2,000 shares of MidWestOne Financial Group stock in a transaction on Monday, September 30th. The stock was bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the director now directly owns 11,293 shares of the company’s stock, valued at approximately $282,325. This represents a 21.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles N. Reeves acquired 7,000 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following 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 position. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,400 shares of company stock worth $235,000 in the last 90 days. 2.80% of the stock is owned by insiders.

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.