New York State Common Retirement Fund decreased its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,100 shares of the financial services provider’s stock after selling 2,700 shares during the quarter. New York State Common Retirement Fund’s holdings in MidWestOne Financial Group were worth $276,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in MidWestOne Financial Group by 1.4% during the third quarter. BlackRock Inc. now owns 573,874 shares of the financial services provider’s stock worth $19,116,000 after purchasing an additional 8,074 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MidWestOne Financial Group by 6.8% during the third quarter. Dimensional Fund Advisors LP now owns 356,764 shares of the financial services provider’s stock worth $11,884,000 after buying an additional 22,610 shares during the period. Renaissance Technologies LLC boosted its position in shares of MidWestOne Financial Group by 5.7% during the third quarter. Renaissance Technologies LLC now owns 219,849 shares of the financial services provider’s stock worth $7,323,000 after buying an additional 11,849 shares during the period. Bailard Inc. acquired a new stake in shares of MidWestOne Financial Group in the third quarter valued at $350,000. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of MidWestOne Financial Group by 6.0% in the third quarter. Pacific Ridge Capital Partners LLC now owns 45,310 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 2,570 shares in the last quarter. 45.64% of the stock is currently owned by institutional investors.
Shares of MOFG stock opened at $29.15 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $349.92 million, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07. MidWestOne Financial Group, Inc. has a fifty-two week low of $23.80 and a fifty-two week high of $35.20.
MidWestOne Financial Group (NASDAQ:MOFG) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.03). The business had revenue of $32.37 million for the quarter, compared to analyst estimates of $32.59 million. MidWestOne Financial Group had a return on equity of 9.04% and a net margin of 20.02%. As a group, research analysts predict that MidWestOne Financial Group, Inc. will post 3.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were paid a $0.203 dividend. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 27th. This represents a $0.81 annualized dividend and a dividend yield of 2.79%. MidWestOne Financial Group’s payout ratio is 31.89%.
Several equities analysts recently issued reports on MOFG shares. BidaskClub raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, January 4th.
MidWestOne Financial Group 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, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.
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