Empowered Funds LLC Acquires 3,023 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Empowered Funds LLC boosted its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,137 shares of the financial services provider’s stock after purchasing an additional 3,023 shares during the period. Empowered Funds LLC owned about 0.30% of MidWestOne Financial Group worth $1,839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in MidWestOne Financial Group during the third quarter worth about $163,000. Virtu Financial LLC bought a new position in MidWestOne Financial Group during the third quarter worth about $261,000. Apella Capital LLC bought a new position in MidWestOne Financial Group during the fourth quarter worth about $268,000. Quadrature Capital Ltd bought a new position in MidWestOne Financial Group during the third quarter worth about $353,000. Finally, GSA Capital Partners LLP bought a new position in shares of MidWestOne Financial Group in the third quarter valued at approximately $361,000. Institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Performance

MOFG stock opened at $32.07 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.78 and a quick ratio of 0.77. The company has a 50 day moving average price of $30.62 and a 200 day moving average price of $29.77. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two week high of $34.56. The stock has a market capitalization of $666.09 million, a PE ratio of -7.90 and a beta of 1.04.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping 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%. Analysts forecast that MidWestOne Financial Group, Inc. will post 3.16 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -23.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Hovde Group lifted their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th. Piper Sandler cut 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 note on Monday, October 28th. Finally, StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, January 27th.

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.