James M. Cantrell Acquires 500 Shares of MidWestOne Financial Group, Inc. (MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) CFO James M. Cantrell purchased 500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $33.25 per share, for a total transaction of $16,625.00. Following the completion of the purchase, the chief financial officer now directly owns 9,463 shares of the company’s stock, valued at $314,644.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

MidWestOne Financial Group, Inc. (MOFG) opened at $33.15 on Friday. 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 $405.08, a P/E ratio of 16.17, a PEG ratio of 1.57 and a beta of 1.07. MidWestOne Financial Group, Inc. has a 1 year low of $30.56 and a 1 year high of $38.29.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.195 per share. The ex-dividend date is Wednesday, February 28th. This is a positive change 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%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 33.50%.

MOFG has been the topic of several recent analyst reports. 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. BidaskClub lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $39.00 price target on shares of MidWestOne Financial Group in a research note on Friday, January 19th. One 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 company’s stock. MidWestOne Financial Group currently has a consensus rating of “Hold” and a consensus target price of $38.50.

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of MidWestOne Financial Group by 75.8% during the third quarter. First Trust Advisors LP now owns 45,268 shares of the financial services provider’s stock worth $1,528,000 after acquiring an additional 19,513 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of MidWestOne Financial Group by 66.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,800 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 7,500 shares during the last quarter. Maltese Capital Management LLC grew its position in shares of MidWestOne Financial Group by 10.0% during the third quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after acquiring an additional 21,500 shares during the last quarter. State Street Corp grew its position in shares of MidWestOne Financial Group by 30.2% during the second quarter. State Street Corp now owns 169,592 shares of the financial services provider’s stock worth $5,749,000 after acquiring an additional 39,292 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its position in shares of MidWestOne Financial Group by 117.3% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 19,455 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 10,500 shares during the last quarter. 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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