JPMorgan Chase & Co. raised its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,983 shares of the financial services provider’s stock after purchasing an additional 3,223 shares during the period. JPMorgan Chase & Co. owned 0.31% of MidWestOne Financial Group worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Archford Capital Strategies LLC boosted its holdings in shares of MidWestOne Financial Group by 133.9% in the second quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 1,145 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of MidWestOne Financial Group in the second quarter worth $133,000. SG Americas Securities LLC bought a new position in shares of MidWestOne Financial Group in the third quarter worth $181,000. Alliancebernstein L.P. bought a new position in shares of MidWestOne Financial Group in the second quarter worth $217,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of MidWestOne Financial Group in the second quarter worth $413,000. 46.47% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on MOFG. BidaskClub lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Sandler O’Neill reaffirmed a “buy” rating and issued a $39.00 price target on shares of MidWestOne Financial Group in a report on Friday, January 19th. Finally, Zacks Investment Research raised MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Saturday, December 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. MidWestOne Financial Group currently has an average rating of “Hold” and a consensus target price of $38.50.
In other MidWestOne Financial Group news, COO Kevin E. Kramer acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the purchase, the chief operating officer now owns 4,833 shares of the company’s stock, valued at $161,132.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 2,500 shares of company stock valued at $84,186 in the last three months. 25.30% of the stock is owned by corporate insiders.
MidWestOne Financial Group, Inc. (MOFG) remained flat at $$33.15 during trading hours on Friday. 36,818 shares of the company’s stock were exchanged, compared to its average volume of 36,911. The company has a market cap of $405.06, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.07. MidWestOne Financial Group, Inc. has a fifty-two week low of $30.56 and a fifty-two week high of $38.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.195 per share. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.78 annualized dividend and a yield of 2.35%. MidWestOne Financial Group’s dividend payout ratio (DPR) is currently 43.59%.
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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.
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