Insider Buying: MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CEO Acquires $175,000.00 in Stock

03 Oct 2024, 09:42 by Danessa Lincoln · The Markets Daily

MidWestOne Financial Group, Inc. (NASDAQ:MOFG – Get Free Report) CEO Charles N. Reeves purchased 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $175,000.00. Following the purchase, the chief executive officer now directly owns 45,712 shares in the company, valued at $1,142,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MidWestOne Financial Group Trading Down 0.4 %

NASDAQ:MOFG opened at $27.13 on Thursday. The stock’s 50 day simple moving average is $28.01 and its 200-day simple moving average is $24.11. MidWestOne Financial Group, Inc. has a 12-month low of $19.19 and a 12-month high of $30.51. The firm has a market cap of $427.43 million, a P/E ratio of 18.84 and a beta of 1.02. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.21.

MidWestOne Financial Group (NASDAQ:MOFG – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). MidWestOne Financial Group had a return on equity of 5.27% and a net margin of 9.79%. The business had revenue of $57.90 million for the quarter, compared to analyst estimates of $45.75 million. Equities analysts anticipate that MidWestOne Financial Group, Inc. will post 2.16 EPS for the current year.

MidWestOne Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. MidWestOne Financial Group’s dividend payout ratio is presently 67.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on MidWestOne Financial Group from $22.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $28.00 target price (up previously from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.50.

Get Our Latest Stock Report on MOFG

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in MidWestOne Financial Group in the second quarter valued at $247,000. BNP Paribas Financial Markets grew its holdings in MidWestOne Financial Group by 24.8% in the fourth quarter. BNP Paribas Financial Markets now owns 13,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 2,728 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in MidWestOne Financial Group in the second quarter valued at $329,000. Bank of Montreal Can acquired a new stake in MidWestOne Financial Group in the second quarter valued at $388,000. Finally, Rhumbline Advisers grew its holdings in MidWestOne Financial Group by 3.0% in the second quarter. Rhumbline Advisers now owns 22,750 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

About MidWestOne Financial Group

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