Hotchkis & Wiley Capital Management LLC Has $6.42 Million Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Hotchkis & Wiley Capital Management LLC boosted its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 88.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,970 shares of the financial services provider’s stock after purchasing an additional 105,720 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in MidWestOne Financial Group were worth $6,418,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in MidWestOne Financial Group during the 3rd quarter valued at $163,000. Renaissance Technologies LLC bought a new stake in MidWestOne Financial Group in the 2nd quarter valued at $247,000. GSA Capital Partners LLP bought a new stake in MidWestOne Financial Group in the 3rd quarter valued at $361,000. Hsbc Holdings PLC bought a new stake in MidWestOne Financial Group in the 2nd quarter valued at $329,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in MidWestOne Financial Group in the 3rd quarter valued at $436,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

MidWestOne Financial Group Stock Up 0.5 %

MOFG opened at $33.61 on Friday. The firm’s 50-day simple moving average is $30.35 and its 200-day simple moving average is $26.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. MidWestOne Financial Group, Inc. has a twelve month low of $19.43 and a twelve month high of $34.56. The firm has a market cap of $698.08 million, a price-to-earnings ratio of -7.20 and a beta of 1.03.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Monday, December 2nd. MidWestOne Financial Group’s payout ratio is -20.77%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MOFG shares. Piper Sandler lowered their price target on shares of MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a report on Monday, October 28th. StockNews.com lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MidWestOne Financial Group from $31.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, MidWestOne Financial Group presently has a consensus rating of “Hold” and an average target price of $29.00.

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.