Thrivent Financial For Lutherans increased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,610 shares of the financial services provider’s stock after acquiring an additional 28,310 shares during the quarter. Thrivent Financial For Lutherans owned approximately 2.38% of MidWestOne Financial Group worth $9,745,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Royce & Associates LP raised its stake in MidWestOne Financial Group by 3.0% during the fourth quarter. Royce & Associates LP now owns 654,571 shares of the financial services provider’s stock worth $21,948,000 after acquiring an additional 18,832 shares during the period. BlackRock Inc. grew its position in MidWestOne Financial Group by 1.9% in the 4th quarter. BlackRock Inc. now owns 530,560 shares of the financial services provider’s stock worth $17,789,000 after purchasing an additional 9,907 shares during the last quarter. Vanguard Group Inc. grew its position in MidWestOne Financial Group by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 416,890 shares of the financial services provider’s stock worth $14,128,000 after purchasing an additional 49,377 shares during the last quarter. Monashee Investment Management LLC bought a new position in MidWestOne Financial Group in the 4th quarter worth about $8,114,000. Finally, Maltese Capital Management LLC grew its position in 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 during the last quarter. Hedge funds and other institutional investors own 43.87% of the company’s stock.
MidWestOne Financial Group, Inc. (MOFG) opened at $34.22 on Wednesday. MidWestOne Financial Group, Inc. has a 1 year low of $30.56 and a 1 year high of $38.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $417.10, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.
Several research analysts have commented on the stock. Sandler O’Neill restated a “buy” rating and issued a $39.00 target price on shares of MidWestOne Financial Group in a research report on Friday, January 19th. BidaskClub cut shares of MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 15th. Finally, Zacks Investment Research cut shares of MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.50.
In other news, Director Stephen L. West bought 3,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $33.02 per share, for a total transaction of $99,060.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Kevin E. Kramer acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the acquisition, the chief operating officer now directly owns 4,833 shares of the company’s stock, valued at $161,132.22. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,200 shares of company stock valued at $172,059. 25.30% of the stock is owned by insiders.
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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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