MidWestOne Financial Group Inc. (NASDAQ:MOFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value. “

Shares of MidWestOne Financial Group (NASDAQ:MOFG) opened at 33.95 on Tuesday. MidWestOne Financial Group has a 12 month low of $24.71 and a 12 month high of $35.32. The company has a 50-day moving average of $31.52 and a 200-day moving average of $29.94. The stock has a market capitalization of $388.22 million, a PE ratio of 15.70 and a beta of 1.25.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, November 29th. MidWestOne Financial Group’s payout ratio is 27.95%.

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Several large investors have recently bought and sold shares of the company. Trutina Financial LLC purchased a new stake in MidWestOne Financial Group during the second quarter valued at $434,000. California State Teachers Retirement System raised its stake in MidWestOne Financial Group by 3.8% in the second quarter. California State Teachers Retirement System now owns 17,309 shares of the financial services provider’s stock valued at $494,000 after buying an additional 631 shares during the last quarter. Royce & Associates LP purchased a new stake in MidWestOne Financial Group during the second quarter valued at $4,674,000. Pinnacle Holdings LLC raised its stake in MidWestOne Financial Group by 3.2% in the second quarter. Pinnacle Holdings LLC now owns 10,964 shares of the financial services provider’s stock valued at $313,000 after buying an additional 335 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in MidWestOne Financial Group by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 40,152 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 1,787 shares during the last quarter. 22.20% of the stock is currently owned by institutional investors and hedge funds.

About MidWestOne Financial Group

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 MidWestOne Bank and Central Bank provide service retail banking in the communities in which their respective branch offices are located.

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