Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $29.43. MidWestOne Financial Group shares last traded at $29.36, with a volume of 73 shares traded.
MOFG has been the topic of a number of research reports. BidaskClub upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. ValuEngine upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, Zacks Investment Research upgraded MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, July 31st.
The firm has a market capitalization of $481.82 million, a P/E ratio of 11.44 and a beta of 0.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $28.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 29th. MidWestOne Financial Group’s payout ratio is currently 31.89%.
In other news, Director Kurt R. Weise sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $30.09, for a total value of $45,135.00. Following the transaction, the director now directly owns 2,731 shares of the company’s stock, valued at approximately $82,175.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of MidWestOne Financial Group by 12.2% in the 2nd quarter. BlackRock Inc. now owns 642,881 shares of the financial services provider’s stock valued at $17,975,000 after purchasing an additional 69,922 shares during the period. Vanguard Group Inc. raised its stake in MidWestOne Financial Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 525,085 shares of the financial services provider’s stock worth $14,681,000 after buying an additional 9,714 shares during the period. Dimensional Fund Advisors LP raised its stake in MidWestOne Financial Group by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock worth $9,540,000 after buying an additional 27,446 shares during the period. Renaissance Technologies LLC raised its stake in MidWestOne Financial Group by 1.0% during the 2nd quarter. Renaissance Technologies LLC now owns 203,100 shares of the financial services provider’s stock worth $5,679,000 after buying an additional 2,000 shares during the period. Finally, Northern Trust Corp raised its stake in MidWestOne Financial Group by 0.9% during the 4th quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock worth $3,260,000 after buying an additional 1,141 shares during the period. 33.88% of the stock is currently owned by institutional investors.
About MidWestOne Financial Group (NASDAQ:MOFG)
MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including 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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