Proficio Capital Partners LLC Takes Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Proficio Capital Partners LLC purchased a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,792 shares of the financial services provider’s stock, valued at approximately $518,000. Proficio Capital Partners LLC owned about 0.09% of MidWestOne Financial Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MOFG. SG Americas Securities LLC lifted its holdings in MidWestOne Financial Group by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 2,014 shares during the last quarter. Virtu Financial LLC bought a new position in MidWestOne Financial Group during the 3rd quarter worth $261,000. Apella Capital LLC bought a new position in MidWestOne Financial Group during the 4th quarter worth $268,000. Quadrature Capital Ltd bought a new position in MidWestOne Financial Group during the 3rd quarter worth $353,000. Finally, GSA Capital Partners LLP bought a new position in MidWestOne Financial Group during the 3rd quarter worth $361,000. 65.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $34.00 to $39.00 in a research report on Tuesday, December 17th. StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Hovde Group increased their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

MidWestOne Financial Group Stock Down 0.8 %

Shares of NASDAQ MOFG opened at $29.00 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56. The stock has a market capitalization of $602.48 million, a P/E ratio of -7.14 and a beta of 1.04. The stock’s fifty day moving average is $30.44 and its 200 day moving average is $30.18.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio is presently -23.89%.

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.