First Trust Advisors LP Grows Holdings in MidWestOne Financial Group, Inc. (MOFG)
First Trust Advisors LP grew its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 75.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,268 shares of the financial services provider’s stock after purchasing an additional 19,513 shares during the period. First Trust Advisors LP owned about 0.37% of MidWestOne Financial Group worth $1,528,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. American International Group Inc. boosted its position in shares of MidWestOne Financial Group by 7.0% in the first quarter. American International Group Inc. now owns 5,077 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 332 shares during the period. Vanguard Group Inc. boosted its holdings in MidWestOne Financial Group by 50.0% in the first quarter. Vanguard Group Inc. now owns 367,513 shares of the financial services provider’s stock valued at $12,602,000 after acquiring an additional 122,424 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MidWestOne Financial Group by 12.2% in the first quarter. Geode Capital Management LLC now owns 68,124 shares of the financial services provider’s stock valued at $2,335,000 after acquiring an additional 7,381 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MidWestOne Financial Group by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 175,439 shares of the financial services provider’s stock valued at $6,016,000 after buying an additional 12,150 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in MidWestOne Financial Group by 5.4% in the 1st quarter. Renaissance Technologies LLC now owns 129,700 shares of the financial services provider’s stock worth $4,447,000 after purchasing an additional 6,600 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total value of $35,210.00. Following the completion of the transaction, the director now directly owns 2,275 shares in the company, valued at approximately $80,102.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 25.30% of the company’s stock.
MOFG has been the subject of a number of recent analyst reports. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BidaskClub raised MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd.
MidWestOne Financial Group, Inc. (NASDAQ:MOFG) opened at $36.37 on Friday. MidWestOne Financial Group, Inc. has a 52 week low of $30.56 and a 52 week high of $39.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $438.05, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.56 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 annualized dividend and a yield of 1.87%. MidWestOne Financial Group’s payout ratio is 33.50%.
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MidWestOne Financial Group Company 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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