Sippican Capital Advisors lifted its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,338 shares of the financial services provider’s stock after purchasing an additional 1,205 shares during the period. MidWestOne Financial Group accounts for 1.3% of Sippican Capital Advisors’ portfolio, making the stock its 27th largest holding. Sippican Capital Advisors’ holdings in MidWestOne Financial Group were worth $1,893,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. MidWestOne Financial Group Inc. increased its stake in shares of MidWestOne Financial Group by 1.0% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock worth $94,397,000 after purchasing an additional 43,172 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MidWestOne Financial Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock worth $15,901,000 after purchasing an additional 25,767 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MidWestOne Financial Group during the 3rd quarter worth about $163,000. Vanguard Group Inc. increased its stake in shares of MidWestOne Financial Group by 2.5% during 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 last quarter. Finally, Rhumbline Advisers increased its stake in shares of MidWestOne Financial Group by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 653 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at MidWestOne Financial Group
In other MidWestOne Financial Group news, CEO Charles N. Reeves purchased 7,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now owns 45,712 shares in the company, valued at $1,142,800. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Charles N. Reeves acquired 7,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,712 shares in the company, valued at $1,142,800. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew J. Hayek acquired 2,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the director now owns 11,293 shares of the company’s stock, valued at $282,325. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 9,400 shares of company stock valued at $235,000 in the last quarter. Company insiders own 2.80% of the company’s stock.
MidWestOne Financial Group Stock Performance
MidWestOne Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. 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 note on Monday, July 29th. Piper Sandler decreased their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.00.
Get Our Latest Report on MidWestOne Financial Group
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.
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