Curi RMB Capital LLC Takes $4.40 Million Position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Curi RMB Capital LLC bought a new position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 154,284 shares of the financial services provider’s stock, valued at approximately $4,402,000. Curi RMB Capital LLC owned approximately 0.98% of MidWestOne Financial Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in MidWestOne Financial Group in the 3rd quarter worth approximately $361,000. Emerald Mutual Fund Advisers Trust bought a new stake in MidWestOne Financial Group in the third quarter worth $713,000. Sippican Capital Advisors increased its position in MidWestOne Financial Group by 1.9% in the third quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock worth $1,893,000 after purchasing an additional 1,205 shares during the last quarter. SG Americas Securities LLC purchased a new stake in MidWestOne Financial Group during the third quarter valued at $163,000. Finally, MidWestOne Financial Group Inc. lifted its position in MidWestOne Financial Group by 1.0% during the second quarter. MidWestOne Financial Group Inc. now owns 4,197,286 shares of the financial services provider’s stock valued at $94,397,000 after purchasing an additional 43,172 shares during the last quarter. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Stock Down 1.2 %

MOFG stock opened at $32.51 on Friday. MidWestOne Financial Group, Inc. has a 12 month low of $19.43 and a 12 month high of $34.00. The company has a 50-day moving average price of $28.98 and a 200 day moving average price of $25.71. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.243 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.97 annualized dividend and a dividend yield of 2.99%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -20.77%.

Analyst Upgrades and Downgrades

MOFG has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 target price (up from $25.00) on shares of MidWestOne Financial Group in a report on Monday, July 29th. Piper Sandler reduced their price objective on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Finally, StockNews.com lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, MidWestOne Financial Group has a consensus rating of “Hold” and a consensus target price of $27.00.

Insider Activity

In related news, CEO Charles N. Reeves bought 7,000 shares of the stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $25.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the chief executive officer now owns 45,712 shares of the company’s stock, valued at $1,142,800. This trade represents a 18.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew J. Hayek purchased 2,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director now owns 11,293 shares of the company’s stock, valued at approximately $282,325. The trade was a 21.52 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 9,400 shares of company stock valued at $235,000. 2.80% of the stock is currently owned by 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.