Rhumbline Advisers lessened its stake in shares of MidWestOne Financial Group (NASDAQ:MOFG) by 15.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,678 shares of the financial services provider’s stock after selling 1,994 shares during the period. Rhumbline Advisers’ holdings in MidWestOne Financial Group were worth $358,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in MidWestOne Financial Group during the third quarter worth about $181,000. Citadel Advisors LLC acquired a new position in MidWestOne Financial Group during the third quarter worth approximately $268,000. Raymond James Financial Services Advisors Inc. acquired a new position in MidWestOne Financial Group during the fourth quarter worth approximately $286,000. Monarch Partners Asset Management LLC increased its position in MidWestOne Financial Group by 15.5% during the fourth quarter. Monarch Partners Asset Management LLC now owns 15,750 shares of the financial services provider’s stock worth $528,000 after buying an additional 2,110 shares during the last quarter. Finally, OxFORD Asset Management LLP increased its position in MidWestOne Financial Group by 16.5% during the third quarter. OxFORD Asset Management LLP now owns 21,328 shares of the financial services provider’s stock worth $726,000 after buying an additional 3,026 shares during the last quarter. Institutional investors and hedge funds own 43.87% of the company’s stock.
In other news, Director Stephen L. West bought 3,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were bought at an average price of $33.02 per share, with a total value of $99,060.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kevin E. Kramer bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the transaction, the chief operating officer now directly owns 4,833 shares of the company’s stock, valued at approximately $161,132.22. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 5,200 shares of company stock worth $172,059. Company insiders own 7.20% of the company’s stock.
Shares of NASDAQ MOFG opened at $32.42 on Friday. The company has a market cap of $404.86, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 0.86. MidWestOne Financial Group has a twelve month low of $30.56 and a twelve month high of $37.94.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s payout ratio is 43.09%.
A number of brokerages have weighed in on MOFG. BidaskClub raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Sandler O’Neill reissued a “buy” rating and set a $39.00 price target on shares of MidWestOne Financial Group in a research report on Friday, January 19th. Zacks Investment Research raised MidWestOne Financial Group from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Saturday, December 30th. Finally, ValuEngine downgraded MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.00.
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MidWestOne Financial Group Company Profile
MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.
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