Insider Buying: MidWestOne Financial Group, Inc. (MOFG) Director Purchases 3,000 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Stephen L. West bought 3,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $33.02 per share, for a total transaction of $99,060.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) traded down $0.07 during trading hours on Tuesday, hitting $31.47. 21,662 shares of the company’s stock traded hands, compared to its average volume of 25,318. MidWestOne Financial Group, Inc. has a 12-month low of $30.56 and a 12-month high of $38.29. The firm has a market capitalization of $405.08, a P/E ratio of 16.17, a P/E/G ratio of 1.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.88.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.195 dividend. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, February 28th. MidWestOne Financial Group’s payout ratio is currently 33.50%.

Several large investors have recently added to or reduced their stakes in MOFG. Vanguard Group Inc. increased its holdings in shares of MidWestOne Financial Group by 13.4% in the second quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock valued at $14,128,000 after purchasing an additional 49,377 shares during the last quarter. State Street Corp lifted its holdings in shares of MidWestOne Financial Group by 30.2% in the 2nd quarter. State Street Corp now owns 169,592 shares of the financial services provider’s stock worth $5,749,000 after purchasing an additional 39,292 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MidWestOne Financial Group by 17.9% in the 3rd 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of MidWestOne Financial Group by 27.9% in the 2nd quarter. Northern Trust Corp now owns 135,656 shares of the financial services provider’s stock worth $4,597,000 after purchasing an additional 29,598 shares in the last quarter. Finally, Maltese Capital Management LLC lifted its holdings in shares of MidWestOne Financial Group by 10.0% in the 3rd quarter. Maltese Capital Management LLC now owns 237,300 shares of the financial services provider’s stock worth $8,011,000 after purchasing an additional 21,500 shares in the last quarter. Hedge funds and other institutional investors own 46.35% of the company’s stock.

MOFG has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. BidaskClub upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $39.00 price objective on shares of MidWestOne Financial Group in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. MidWestOne Financial Group presently has an average rating of “Hold” and a consensus target price of $38.50.

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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.

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

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