LSV Asset Management Maintains Stake in MidWestOne Financial Group, Inc. (MOFG)
LSV Asset Management held its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 123,220 shares of the financial services provider’s stock at the end of the 2nd quarter. LSV Asset Management owned approximately 1.01% of MidWestOne Financial Group worth $4,175,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Royce & Associates LP boosted its stake in shares of MidWestOne Financial Group by 22.5% in the second quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after buying an additional 123,036 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of MidWestOne Financial Group in the first quarter valued at approximately $20,031,000. EJF Capital LLC purchased a new stake in shares of MidWestOne Financial Group in the first quarter valued at approximately $12,859,000. Vanguard Group Inc. boosted its stake in shares of MidWestOne Financial Group by 50.0% in the first quarter. Vanguard Group Inc. now owns 367,513 shares of the financial services provider’s stock valued at $12,602,000 after buying an additional 122,424 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in shares of MidWestOne Financial Group by 392.3% in the first quarter. Kennedy Capital Management Inc. now owns 196,958 shares of the financial services provider’s stock valued at $6,754,000 after buying an additional 156,954 shares in the last quarter. Hedge funds and other institutional investors own 46.44% of the company’s stock.
MidWestOne Financial Group, Inc. (MOFG) opened at 33.73 on Tuesday. The company’s 50-day moving average price is $33.24 and its 200 day moving average price is $34.47. MidWestOne Financial Group, Inc. has a one year low of $27.93 and a one year high of $39.20. The firm has a market capitalization of $412.11 million, a PE ratio of 16.41 and a beta of 1.24.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The firm had revenue of $31.57 million during the quarter, compared to analyst estimates of $31.17 million. MidWestOne Financial Group had a return on equity of 7.55% and a net margin of 17.60%. On average, analysts forecast that MidWestOne Financial Group, Inc. will post $2.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.17 per share. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, August 30th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 33.17%.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 889 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total transaction of $29,256.99. Following the completion of the transaction, the director now directly owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 25.30% of the company’s stock.
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A number of analysts recently weighed in on MOFG shares. BidaskClub upgraded MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $37.00 price objective on MidWestOne Financial Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
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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