Jacobs Asset Management LLC Decreases Position in MidWestOne Financial Group, Inc. $MOFG

Jacobs Asset Management LLC decreased its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 15.8% in the first quarter, HoldingsChannel.com reports. The fund owned 200,000 shares of the financial services provider’s stock after selling 37,500 shares during the period. MidWestOne Financial Group comprises approximately 3.7% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Jacobs Asset Management LLC’s holdings in MidWestOne Financial Group were worth $5,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its stake in MidWestOne Financial Group by 57.7% in the 4th quarter. Two Sigma Investments LP now owns 66,002 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 24,140 shares during the last quarter. GAMMA Investing LLC boosted its holdings in MidWestOne Financial Group by 16,686.9% in the 1st quarter. GAMMA Investing LLC now owns 21,823 shares of the financial services provider’s stock worth $646,000 after buying an additional 21,693 shares during the last quarter. Northern Trust Corp boosted its holdings in MidWestOne Financial Group by 29.0% in the 4th quarter. Northern Trust Corp now owns 165,274 shares of the financial services provider’s stock worth $4,813,000 after buying an additional 37,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MidWestOne Financial Group by 32.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,541 shares of the financial services provider’s stock worth $307,000 after buying an additional 2,575 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in MidWestOne Financial Group by 63.8% in the 4th quarter. Bank of America Corp DE now owns 24,818 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 9,671 shares in the last quarter. Hedge funds and other institutional investors own 65.42% of the company’s stock.

MidWestOne Financial Group Stock Down 1.5%

MOFG stock opened at $29.85 on Tuesday. The firm has a market cap of $618.19 million, a PE ratio of -7.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $28.92. MidWestOne Financial Group, Inc. has a one year low of $24.62 and a one year high of $34.56.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.28). The business had revenue of $61.41 million during the quarter, compared to the consensus estimate of $60.60 million. On average, equities research analysts anticipate that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 3.2%. MidWestOne Financial Group’s payout ratio is presently -23.89%.

Wall Street Analyst Weigh In

MOFG has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of MidWestOne Financial Group from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Piper Sandler dropped their target price on MidWestOne Financial Group from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.17.

Insider Buying and Selling

In other news, COO Len D. Devaisher bought 1,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $28.72 per share, with a total value of $28,720.00. Following the completion of the transaction, the chief operating officer directly owned 3,000 shares in the company, valued at $86,160. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles N. Reeves bought 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $28.04 per share, for a total transaction of $140,200.00. Following the transaction, the chief executive officer owned 58,867 shares of the company’s stock, valued at $1,650,630.68. This trade represents a 9.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 6,800 shares of company stock worth $190,882. 2.50% of the stock is owned by corporate insiders.

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.