MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 38.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,987 shares of the financial services provider’s stock after buying an additional 15,768 shares during the period. Charles Schwab Investment Management Inc. owned about 0.27% of MidWestOne Financial Group worth $1,659,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MidWestOne Financial Group during the 3rd quarter worth $436,000. BNP Paribas Financial Markets lifted its holdings in shares of MidWestOne Financial Group by 1,350.1% during the third quarter. BNP Paribas Financial Markets now owns 39,936 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 37,182 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of MidWestOne Financial Group by 13.1% in the 3rd quarter. Martingale Asset Management L P now owns 33,186 shares of the financial services provider’s stock valued at $947,000 after purchasing an additional 3,852 shares during the period. Verition Fund Management LLC purchased a new position in MidWestOne Financial Group in the 3rd quarter worth about $1,781,000. Finally, Basswood Capital Management L.L.C. acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth about $7,094,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Trading Down 0.5 %

NASDAQ:MOFG opened at $29.72 on Friday. The stock has a market cap of $618.65 million, a PE ratio of -7.32 and a beta of 1.04. MidWestOne Financial Group, Inc. has a fifty-two week low of $19.43 and a fifty-two 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. The stock’s 50-day moving average is $30.56 and its two-hundred day moving average is $30.22.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. As a group, equities research analysts forecast that MidWestOne Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -23.89%.

Wall Street Analyst Weigh In

Several brokerages have commented on MOFG. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of 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 note on Tuesday, December 17th. Finally, Hovde Group boosted 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.

Insider Buying and Selling

In other news, CEO Charles N. Reeves acquired 1,785 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $27.98 per share, for a total transaction of $49,944.30. Following the completion of the acquisition, the chief executive officer now owns 53,621 shares of the company’s stock, valued at approximately $1,500,315.58. This represents a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate 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.