Menta Capital LLC Buys New Holdings in MidWestOne Financial Group, Inc. (MOFG)
Menta Capital LLC bought a new position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,264 shares of the financial services provider’s stock, valued at approximately $450,000. Menta Capital LLC owned 0.11% of MidWestOne Financial Group as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 worth $12,602,000 after acquiring an additional 122,424 shares in the last quarter. Wellington Management Group LLP acquired a new stake in MidWestOne Financial Group in the 1st quarter valued at about $20,031,000. Kennedy Capital Management Inc. lifted its holdings in MidWestOne Financial Group by 2.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 201,201 shares of the financial services provider’s stock valued at $6,819,000 after acquiring an additional 4,243 shares during the last quarter. Royce & Associates LP lifted its holdings in MidWestOne Financial Group by 22.5% in the 2nd quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after acquiring an additional 123,036 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in MidWestOne Financial Group in the 1st quarter valued at about $329,000. 46.44% of the stock is currently owned by hedge funds and other institutional investors.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 889 shares of MidWestOne Financial Group stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $32.91, for a total transaction of $29,256.99. Following the completion of the sale, the director now owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.30% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub upgraded shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $37.00 target price on shares of MidWestOne Financial Group and gave the stock a “hold” rating in a report on Thursday, July 27th.
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MidWestOne Financial Group, Inc. (MOFG) opened at 33.76 on Monday. The firm has a 50 day moving average price of $33.22 and a 200 day moving average price of $34.44. The company has a market cap of $412.48 million, a PE ratio of 16.43 and a beta of 1.25. MidWestOne Financial Group, Inc. has a 12-month low of $27.93 and a 12-month high of $39.20.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. MidWestOne Financial Group had a net margin of 17.60% and a return on equity of 7.55%. The company had revenue of $31.57 million during the quarter, compared to analysts’ expectations of $31.17 million. On average, analysts anticipate that MidWestOne Financial Group, Inc. will post $2.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost 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 2.01%. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 33.17%.
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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