Kurt R. Weise Sells 500 Shares of MidWestOne Financial Group, Inc. (MOFG) Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Kurt R. Weise sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $34.33, for a total value of $17,165.00. Following the completion of the sale, the director now directly owns 2,503 shares in the company, valued at approximately $85,927.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NASDAQ MOFG traded up $0.56 during mid-day trading on Friday, hitting $34.69. The company had a trading volume of 54,526 shares, compared to its average volume of 16,652. The company has a market cap of $416.74 million, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.60 and a beta of 0.91. MidWestOne Financial Group, Inc. has a 12 month low of $30.56 and a 12 month high of $37.94. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

MidWestOne Financial Group (NASDAQ:MOFG) last announced its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $32.07 million for the quarter, compared to the consensus estimate of $32.61 million. MidWestOne Financial Group had a return on equity of 7.09% and a net margin of 14.13%. equities analysts forecast that MidWestOne Financial Group, Inc. will post 2.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Saturday, September 1st will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, August 30th. MidWestOne Financial Group’s dividend payout ratio (DPR) is 43.09%.

MOFG has been the topic of several recent research reports. BidaskClub downgraded MidWestOne Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. ValuEngine raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd.

Several hedge funds and other institutional investors have recently made changes to their positions in MOFG. Royce & Associates LP raised its stake in MidWestOne Financial Group by 1.4% during the 2nd quarter. Royce & Associates LP now owns 733,424 shares of the financial services provider’s stock valued at $24,775,000 after acquiring an additional 10,102 shares in the last quarter. BlackRock Inc. raised its stake in MidWestOne Financial Group by 6.4% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in MidWestOne Financial Group by 8.3% during the 2nd 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 in the last quarter. AT Bancorp raised its stake in MidWestOne Financial Group by 6.3% during the 1st 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 in the last quarter. Finally, Maltese Capital Management LLC raised its stake in MidWestOne Financial Group by 14.4% during the 1st 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 in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

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.

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