Kurt R. Weise Sells 889 Shares of MidWestOne Financial Group, Inc. (MOFG) Stock
MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Kurt R. Weise sold 889 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total value of $29,256.99. Following the completion of the transaction, the director now owns 2,275 shares of the company’s stock, valued at $74,870.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of MidWestOne Financial Group, Inc. (MOFG) traded up 0.03% on Friday, hitting $33.17. The stock had a trading volume of 5,566 shares. The firm’s 50-day moving average price is $34.02 and its 200 day moving average price is $34.88. MidWestOne Financial Group, Inc. has a 52-week low of $27.93 and a 52-week high of $39.20. The firm has a market cap of $405.27 million, a PE ratio of 16.14 and a beta of 1.23.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. The firm had revenue of $31.57 million during the quarter, compared to analysts’ expectations of $31.17 million. MidWestOne Financial Group had a net margin of 17.60% and a return on equity of 7.55%. On average, equities research analysts predict that MidWestOne Financial Group, Inc. will post $2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.17 per share. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.05%. MidWestOne Financial Group’s payout ratio is currently 32.20%.
MOFG has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $40.00 price objective on shares of MidWestOne Financial Group in a research note on Friday, May 19th. BidaskClub upgraded MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $37.00 price objective on MidWestOne Financial Group and gave the stock a “hold” rating in a research note on Thursday, July 27th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOFG. Martingale Asset Management L P raised its position in MidWestOne Financial Group by 3.2% in the first quarter. Martingale Asset Management L P now owns 38,813 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 1,200 shares in the last quarter. Trexquant Investment LP purchased a new position in MidWestOne Financial Group during the first quarter worth $329,000. Smith Moore & CO. purchased a new position in MidWestOne Financial Group during the first quarter worth $309,000. TFS Capital LLC purchased a new position in MidWestOne Financial Group during the first quarter worth $238,000. Finally, FSI Group LLC purchased a new position in MidWestOne Financial Group during the first quarter worth $1,886,000. 44.28% of the stock is owned by hedge funds and other institutional investors.
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.
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