MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Douglas K. True bought 400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were purchased at an average cost of $33.64 per share, for a total transaction of $13,456.00. Following the completion of the transaction, the director now owns 2,440 shares of the company’s stock, valued at $82,081.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
MOFG traded down $0.12 during midday trading on Friday, reaching $33.74. 35 shares of the company’s stock were exchanged, compared to its average volume of 15,440. The stock has a market cap of $410.63 million, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.57 and a beta of 0.91. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. MidWestOne Financial Group, Inc. has a one year low of $30.56 and a one year high of $37.94.
MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $32.07 million during the quarter, compared to analysts’ expectations of $32.61 million. MidWestOne Financial Group had a net margin of 14.13% and a return on equity of 7.09%. equities research analysts expect that MidWestOne Financial Group, Inc. will post 2.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Saturday, September 1st will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 30th. MidWestOne Financial Group’s dividend payout ratio is 43.09%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP lifted its stake in MidWestOne Financial Group by 1.4% during the second quarter. Royce & Associates LP now owns 733,424 shares of the financial services provider’s stock worth $24,775,000 after purchasing an additional 10,102 shares during the period. BlackRock Inc. raised its stake in shares of MidWestOne Financial Group by 6.4% in the second quarter. BlackRock Inc. now owns 565,800 shares of the financial services provider’s stock valued at $19,113,000 after acquiring an additional 34,126 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MidWestOne Financial Group by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 334,154 shares of the financial services provider’s stock valued at $11,288,000 after acquiring an additional 25,575 shares during the last quarter. AT Bancorp raised its stake in shares of MidWestOne Financial Group by 6.3% in the first quarter. AT Bancorp now owns 295,478 shares of the financial services provider’s stock valued at $9,836,000 after acquiring an additional 17,621 shares during the last quarter. Finally, Maltese Capital Management LLC raised its stake in shares of MidWestOne Financial Group by 14.4% in the first quarter. Maltese Capital Management LLC now owns 235,000 shares of the financial services provider’s stock valued at $7,823,000 after acquiring an additional 29,600 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.
A number of research firms recently weighed in on MOFG. ValuEngine downgraded MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. BidaskClub upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd.
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.
Further Reading: Risk Tolerance
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