State Street Corp Purchases 16,132 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

State Street Corp boosted its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,394 shares of the financial services provider’s stock after buying an additional 16,132 shares during the period. State Street Corp owned about 1.90% of MidWestOne Financial Group worth $8,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of MidWestOne Financial Group during the 3rd quarter valued at about $22,186,000. Basswood Capital Management L.L.C. acquired a new stake in MidWestOne Financial Group during the third quarter valued at approximately $7,094,000. Jacobs Asset Management LLC bought a new stake in shares of MidWestOne Financial Group in the 3rd quarter valued at approximately $5,739,000. Stieven Capital Advisors L.P. bought a new stake in shares of MidWestOne Financial Group in the 3rd quarter valued at approximately $5,706,000. Finally, Curi RMB Capital LLC acquired a new position in shares of MidWestOne Financial Group in the 3rd quarter worth approximately $4,402,000. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock opened at $29.29 on Friday. The business’s fifty day moving average is $31.38 and its two-hundred day moving average is $28.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. The firm has a market cap of $608.50 million, a P/E ratio of -6.27 and a beta of 1.03. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56.

MidWestOne Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

Analyst Upgrades and Downgrades

MOFG has been the topic of a number of analyst reports. StockNews.com cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Piper Sandler dropped their target price on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th.

Insider Buying and Selling at MidWestOne Financial Group

In other news, CEO Charles N. Reeves bought 7,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,712 shares in the company, valued at $1,142,800. The trade was a 18.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew J. Hayek purchased 2,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director now directly owns 11,293 shares of the company’s stock, valued at $282,325. This trade represents a 21.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 9,400 shares of company stock worth $235,000. 2.80% of the stock is currently owned by corporate insiders.

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.