Insider Selling: MidWestOne Financial Group (MOFG) Director Sells 750 Shares of Stock

MidWestOne Financial Group (NASDAQ:MOFG) Director Kurt R. Weise sold 750 shares of the business’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $33.02, for a total transaction of $24,765.00. Following the sale, the director now owns 2,169 shares of the company’s stock, valued at approximately $71,620.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of MidWestOne Financial Group stock traded up $0.61 during trading on Wednesday, hitting $33.23. 1,435 shares of the stock were exchanged, compared to its average volume of 32,072. The firm has a market capitalization of $395.17 million, a P/E ratio of 18.02, a P/E/G ratio of 1.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86. MidWestOne Financial Group has a 12 month low of $33.01 and a 12 month high of $33.28.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). MidWestOne Financial Group had a return on equity of 6.70% and a net margin of 13.71%. sell-side analysts forecast that MidWestOne Financial Group will post 2.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 31st. MidWestOne Financial Group’s payout ratio is currently 43.09%.

Several equities analysts have recently commented on the stock. Sandler O’Neill restated a “buy” rating and set a $39.00 price target on shares of MidWestOne Financial Group in a research report on Friday, January 19th. BidaskClub lowered shares of MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 15th. Zacks Investment Research upgraded shares of MidWestOne Financial Group from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, May 2nd. Finally, ValuEngine lowered shares of MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.50.

A number of hedge funds have recently bought and sold shares of MOFG. Monashee Investment Management LLC acquired a new stake in MidWestOne Financial Group in the fourth quarter worth about $8,114,000. Dimensional Fund Advisors LP lifted its holdings in MidWestOne Financial Group by 17.9% in the third quarter. Dimensional Fund Advisors LP now owns 234,892 shares of the financial services provider’s stock worth $7,930,000 after purchasing an additional 35,607 shares during the period. Banc Funds Co. LLC lifted its holdings in MidWestOne Financial Group by 37.9% in the fourth quarter. Banc Funds Co. LLC now owns 109,100 shares of the financial services provider’s stock worth $3,658,000 after purchasing an additional 30,000 shares during the period. Thrivent Financial For Lutherans lifted its holdings in MidWestOne Financial Group by 10.8% in the fourth quarter. Thrivent Financial For Lutherans now owns 290,610 shares of the financial services provider’s stock worth $9,745,000 after purchasing an additional 28,310 shares during the period. Finally, Mackay Shields LLC acquired a new stake in MidWestOne Financial Group in the first quarter worth about $931,000. 42.79% of the stock is owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for MidWestOne Financial Group (NASDAQ:MOFG)

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