Richard R. Donohue Acquires 400 Shares of MidWestOne Financial Group, Inc. (MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Richard R. Donohue acquired 400 shares of MidWestOne Financial Group stock in a transaction that occurred on Wednesday, January 31st. The stock was acquired at an average price of $33.21 per share, with a total value of $13,284.00. Following the completion of the acquisition, the director now directly owns 14,105 shares in the company, valued at approximately $468,427.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of MidWestOne Financial Group, Inc. (MOFG) opened at $33.15 on Friday. The stock has a market capitalization of $404.23 and a PE ratio of 16.14. MidWestOne Financial Group, Inc. has a 52 week low of $30.56 and a 52 week high of $38.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.88.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.195 per share. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, February 28th. MidWestOne Financial Group’s payout ratio is currently 33.50%.

MOFG has been the subject of several research analyst reports. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. BidaskClub downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Finally, Sandler O’Neill restated a “buy” rating and set a $39.00 price target on shares of MidWestOne Financial Group in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.50.

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in shares of MidWestOne Financial Group by 75.8% during the 3rd quarter. First Trust Advisors LP now owns 45,268 shares of the financial services provider’s stock valued at $1,528,000 after purchasing an additional 19,513 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of MidWestOne Financial Group by 66.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 18,800 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 7,500 shares during the period. Maltese Capital Management LLC grew its stake in shares of MidWestOne Financial Group by 10.0% during the 3rd quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock valued at $8,011,000 after purchasing an additional 21,500 shares during the period. State Street Corp grew its stake in shares of MidWestOne Financial Group by 30.2% during the 2nd quarter. State Street Corp now owns 169,592 shares of the financial services provider’s stock valued at $5,749,000 after purchasing an additional 39,292 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in shares of MidWestOne Financial Group by 117.3% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 19,455 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 10,500 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

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About MidWestOne Financial Group

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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