State Street Corp Boosts Stake in MidWestOne Financial Group, Inc. (MOFG)
State Street Corp raised its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 30.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,592 shares of the financial services provider’s stock after acquiring an additional 39,292 shares during the quarter. State Street Corp owned approximately 1.39% of MidWestOne Financial Group worth $5,749,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MOFG. Thrivent Financial For Lutherans bought a new position in shares of MidWestOne Financial Group in the second quarter worth about $8,890,000. Royce & Associates LP increased its stake in shares of MidWestOne Financial Group by 22.5% in the second quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after buying an additional 123,036 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 122,424 shares during the period. Northern Trust Corp increased its stake in shares of MidWestOne Financial Group by 27.9% in the second quarter. Northern Trust Corp now owns 135,656 shares of the financial services provider’s stock valued at $4,597,000 after buying an additional 29,598 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of MidWestOne Financial Group by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 199,285 shares of the financial services provider’s stock valued at $6,754,000 after buying an additional 23,846 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.
In other 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 owns 2,275 shares of the company’s stock, valued at $80,102.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 25.30% of the company’s stock.
MidWestOne Financial Group, Inc. (MOFG) opened at $35.35 on Monday. 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 stock has a market capitalization of $431.94, a P/E ratio of 17.24, a PEG ratio of 2.53 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 30th. MidWestOne Financial Group’s dividend payout ratio is currently 33.50%.
Several research analysts have recently issued reports on the company. BidaskClub raised MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd.
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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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