Barclays PLC Purchases 12,677 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Barclays PLC increased its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 43.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,111 shares of the financial services provider’s stock after purchasing an additional 12,677 shares during the quarter. Barclays PLC owned approximately 0.20% of MidWestOne Financial Group worth $1,202,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in MidWestOne Financial Group by 3.0% during the third quarter. Geode Capital Management LLC now owns 335,677 shares of the financial services provider’s stock worth $9,579,000 after purchasing an additional 9,787 shares during the period. Jane Street Group LLC grew its stake in MidWestOne Financial Group by 30.3% in the 3rd quarter. Jane Street Group LLC now owns 28,169 shares of the financial services provider’s stock valued at $804,000 after buying an additional 6,545 shares during the last quarter. Wellington Management Group LLP raised its holdings in MidWestOne Financial Group by 318.0% in the 3rd quarter. Wellington Management Group LLP now owns 800,334 shares of the financial services provider’s stock valued at $22,834,000 after acquiring an additional 608,883 shares during the period. State Street Corp lifted its position in MidWestOne Financial Group by 5.7% during the third quarter. State Street Corp now owns 300,394 shares of the financial services provider’s stock worth $8,570,000 after acquiring an additional 16,132 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of MidWestOne Financial Group during the third quarter worth approximately $353,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on MOFG shares. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $39.00 in a research note on Tuesday, December 17th. StockNews.com cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Piper Sandler dropped their price objective on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a report on Monday, October 28th.

MidWestOne Financial Group Price Performance

Shares of NASDAQ:MOFG opened at $27.96 on Tuesday. The firm has a 50 day moving average of $31.29 and a 200-day moving average of $28.77. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.56. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $580.87 million, a PE ratio of -5.99 and a beta of 1.05.

MidWestOne Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, December 2nd. MidWestOne Financial Group’s payout ratio is presently -20.77%.

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.