American Century Companies Inc. Grows Stock Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

American Century Companies Inc. grew its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,963 shares of the financial services provider’s stock after acquiring an additional 10,798 shares during the period. American Century Companies Inc. owned 0.88% of MidWestOne Financial Group worth $3,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in MidWestOne Financial Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 631,230 shares of the financial services provider’s stock worth $14,796,000 after purchasing an additional 15,512 shares during the period. Choreo LLC bought a new position in shares of MidWestOne Financial Group in the second quarter worth about $584,000. Rhumbline Advisers raised its stake in shares of MidWestOne Financial Group by 3.0% in the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after buying an additional 653 shares during the period. Bank of New York Mellon Corp lifted its position in shares of MidWestOne Financial Group by 10.5% during 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 buying an additional 8,490 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of MidWestOne Financial Group by 24.8% during the 4th quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 2,728 shares during the period. Hedge funds and other institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Down 0.3 %

Shares of MOFG opened at $27.82 on Friday. MidWestOne Financial Group, Inc. has a 12-month low of $19.19 and a 12-month high of $30.51. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $438.30 million, a PE ratio of 19.32 and a beta of 1.02. The business’s 50 day moving average is $27.97 and its 200 day moving average is $23.92.

MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $45.75 million. MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. Research analysts expect that MidWestOne Financial Group, Inc. will post 2.16 earnings per share for the current fiscal year.

MidWestOne Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.243 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.49%. MidWestOne Financial Group’s payout ratio is 67.36%.

Analyst Ratings Changes

MOFG has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of MidWestOne Financial Group from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price objective (up from $25.00) on shares of MidWestOne Financial Group in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.50.

MidWestOne Financial Group Company 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.