Sippican Capital Advisors Lowers Stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Sippican Capital Advisors decreased its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,788 shares of the financial services provider’s stock after selling 550 shares during the quarter. MidWestOne Financial Group accounts for approximately 1.4% of Sippican Capital Advisors’ portfolio, making the stock its 22nd largest position. Sippican Capital Advisors owned about 0.32% of MidWestOne Financial Group worth $1,916,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MOFG. SG Americas Securities LLC acquired a new stake in MidWestOne Financial Group during the 3rd quarter worth approximately $163,000. Renaissance Technologies LLC purchased a new stake in shares of MidWestOne Financial Group during the second quarter worth $247,000. Virtu Financial LLC acquired a new stake in shares of MidWestOne Financial Group in the third quarter valued at $261,000. Apella Capital LLC acquired a new position in MidWestOne Financial Group during the 4th quarter worth $268,000. Finally, Hsbc Holdings PLC purchased a new stake in MidWestOne Financial Group during the 2nd quarter worth about $329,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

MidWestOne Financial Group Price Performance

Shares of MidWestOne Financial Group stock opened at $31.61 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a 52 week low of $19.43 and a 52 week high of $34.56. The firm’s 50 day moving average is $30.88 and its two-hundred day moving average is $29.38.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its earnings results 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 5.13%. On average, analysts predict that MidWestOne Financial Group, Inc. will post 2.3 earnings per share for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.07%. MidWestOne Financial Group’s dividend payout ratio is presently -20.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MOFG shares. Piper Sandler lowered their price objective on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating for the company in a research report on Monday, October 28th. Hovde Group boosted their price target on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the stock a “market perform” rating in a report on Monday. Keefe, Bruyette & Woods upgraded shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $39.00 in a report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday.

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.