Royce & Associates LP decreased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 635,739 shares of the financial services provider’s stock after selling 34,011 shares during the period. Royce & Associates LP owned about 5.20% of MidWestOne Financial Group worth $21,463,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Archford Capital Strategies LLC increased its stake in MidWestOne Financial Group by 133.9% during the second quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 1,145 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in MidWestOne Financial Group during the second quarter valued at $133,000. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group during the third quarter valued at $181,000. Alpine Woods Capital Investors LLC bought a new stake in MidWestOne Financial Group during the second quarter valued at $203,000. Finally, Alliancebernstein L.P. bought a new stake in MidWestOne Financial Group during the second quarter valued at $217,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.
MOFG has been the subject of several recent research reports. BidaskClub upgraded shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd.
MidWestOne Financial Group, Inc. (NASDAQ MOFG) opened at $34.89 on Friday. The company has a market cap of $426.32, a PE ratio of 17.45, a PEG ratio of 2.56 and a beta of 1.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. MidWestOne Financial Group, Inc. has a 12-month low of $30.56 and a 12-month high of $39.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.95%. MidWestOne Financial Group’s dividend payout ratio is currently 33.50%.
In other news, Director Kurt R. Weise sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $35.21, for a total transaction of $35,210.00. Following the completion of the transaction, the director now owns 2,275 shares in the company, valued at $80,102.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.30% of the stock is currently owned by corporate insiders.
MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc that operates through three agencies located in central and east-central Iowa. As of December 31, 2016, the Bank operated a total of 43 banking offices in Iowa, Minnesota, Wisconsin, and Florida.
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