Cornerstone Capital Management Holdings LLC. Boosts Stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Cornerstone Capital Management Holdings LLC. boosted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 117.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,455 shares of the financial services provider’s stock after acquiring an additional 10,500 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.16% of MidWestOne Financial Group worth $658,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MOFG. Bank of New York Mellon Corp boosted its holdings in shares of MidWestOne Financial Group by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 53,671 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 3,344 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MidWestOne Financial Group by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 24,579 shares of the financial services provider’s stock valued at $843,000 after buying an additional 122 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of MidWestOne Financial Group during the 1st quarter valued at $304,000. American International Group Inc. boosted its holdings in shares of MidWestOne Financial Group by 7.0% during the 1st quarter. American International Group Inc. now owns 5,077 shares of the financial services provider’s stock valued at $174,000 after buying an additional 332 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in MidWestOne Financial Group by 50.0% in the 1st quarter. Vanguard Group Inc. now owns 367,513 shares of the financial services provider’s stock worth $12,602,000 after purchasing an additional 122,424 shares in the last quarter. Institutional investors and hedge funds own 46.60% of the company’s stock.

MOFG has been the topic of a number of analyst reports. BidaskClub cut shares of MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $37.00 price target on shares of MidWestOne Financial Group and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd.

In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total value of $35,210.00. Following the completion of the transaction, the director now directly owns 2,275 shares in the company, valued at approximately $80,102.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kurt R. Weise sold 889 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total value of $29,256.99. Following the completion of the transaction, the director now owns 2,275 shares of the company’s stock, valued at $74,870.25. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by insiders.

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Shares of MidWestOne Financial Group, Inc. (MOFG) traded up $0.12 during trading hours on Friday, reaching $34.18. The company’s stock had a trading volume of 21,200 shares, compared to its average volume of 36,425. MidWestOne Financial Group, Inc. has a fifty-two week low of $30.55 and a fifty-two week high of $39.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The stock has a market cap of $419.12, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.23.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, November 30th. MidWestOne Financial Group’s dividend payout ratio (DPR) is 33.50%.

MidWestOne Financial Group 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.

Institutional Ownership by Quarter for MidWestOne Financial Group (NASDAQ:MOFG)

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