MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Jennifer Leigh Hauschildt Buys 517 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Jennifer Leigh Hauschildt purchased 517 shares of MidWestOne Financial Group stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $29.00 per share, with a total value of $14,993.00. Following the completion of the transaction, the director now owns 9,511 shares of the company’s stock, valued at $275,819. This represents a 5.75 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MidWestOne Financial Group Price Performance

NASDAQ:MOFG opened at $29.00 on Friday. The firm has a market cap of $602.48 million, a P/E ratio of -7.14 and a beta of 1.04. The stock has a 50 day moving average of $30.44 and a two-hundred day moving average of $30.14. 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.

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 the consensus estimate of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. On average, analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.2425 dividend. 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 3.34%. MidWestOne Financial Group’s payout ratio is -23.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MOFG shares. StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $39.00 in a research note on Tuesday, December 17th. Finally, Hovde Group upped their price objective on shares of 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.

Institutional Investors Weigh In On MidWestOne Financial Group

A number of large investors have recently made changes to their positions in MOFG. Summit Investment Advisors Inc. lifted its position in MidWestOne Financial Group by 38.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the financial services provider’s stock worth $57,000 after buying an additional 541 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in MidWestOne Financial Group in the fourth quarter valued at approximately $211,000. Polymer Capital Management US LLC acquired a new stake in MidWestOne Financial Group during the fourth quarter worth $222,000. SG Americas Securities LLC raised its position in MidWestOne Financial Group by 35.3% in the fourth 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 period. Finally, Quantbot Technologies LP acquired a new position in shares of MidWestOne Financial Group in the 4th quarter valued at $237,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

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.