Wellington Management Group LLP Has $30.47 Million Stock Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Wellington Management Group LLP grew its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 30.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,046,451 shares of the financial services provider’s stock after acquiring an additional 246,117 shares during the period. Wellington Management Group LLP owned 5.04% of MidWestOne Financial Group worth $30,473,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MOFG. SG Americas Securities LLC grew 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 worth $225,000 after acquiring an additional 2,014 shares in the last quarter. Jennison Associates LLC grew its position in MidWestOne Financial Group by 6.2% in the fourth quarter. Jennison Associates LLC now owns 825,632 shares of the financial services provider’s stock worth $24,042,000 after acquiring an additional 47,979 shares in the last quarter. Empowered Funds LLC grew its position in MidWestOne Financial Group by 5.0% in the fourth quarter. Empowered Funds LLC now owns 63,137 shares of the financial services provider’s stock worth $1,839,000 after acquiring an additional 3,023 shares in the last quarter. Rhumbline Advisers grew its position in MidWestOne Financial Group by 16.4% in the fourth quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 3,617 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in MidWestOne Financial Group by 12.0% in the fourth quarter. Bank of New York Mellon Corp now owns 88,470 shares of the financial services provider’s stock worth $2,576,000 after acquiring an additional 9,510 shares in the last quarter. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Price Performance

NASDAQ MOFG opened at $28.87 on Friday. 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 company has a fifty day simple moving average of $28.20 and a 200 day simple moving average of $29.93. The company has a market cap of $600.99 million, a P/E ratio of -7.11 and a beta of 0.99. MidWestOne Financial Group, Inc. has a 1 year low of $20.04 and a 1 year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $57.58 million during the quarter, compared to the consensus estimate of $58.87 million. MidWestOne Financial Group had a net margin of 9.79% and a return on equity of 6.54%. On average, sell-side analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, June 2nd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -27.40%.

Insider Buying and Selling at MidWestOne Financial Group

In related news, CEO Charles N. Reeves purchased 1,785 shares of MidWestOne Financial Group stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $27.98 per share, with a total value of $49,944.30. Following the acquisition, the chief executive officer now directly owns 53,621 shares in the company, valued at approximately $1,500,315.58. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on MOFG shares. Keefe, Bruyette & Woods decreased their target price on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Piper Sandler decreased their target price on shares of MidWestOne Financial Group from $34.50 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 28th.

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.