Prudential Financial Inc. decreased its holdings in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 4.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 25,912 shares of the financial services provider’s stock after selling 1,120 shares during the period. Prudential Financial Inc. owned 0.21% of MidWestOne Financial Group worth $878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in MidWestOne Financial Group by 50.0% during the 1st quarter. Vanguard Group Inc. now owns 367,513 shares of the financial services provider’s stock valued at $12,602,000 after purchasing an additional 122,424 shares during the period. Wellington Management Group LLP purchased a new position in MidWestOne Financial Group during the 1st quarter valued at about $20,031,000. Royce & Associates LP increased its position in MidWestOne Financial Group by 22.5% during the 2nd quarter. Royce & Associates LP now owns 669,750 shares of the financial services provider’s stock valued at $22,698,000 after purchasing an additional 123,036 shares during the period. Stifel Financial Corp purchased a new position in MidWestOne Financial Group during the 1st quarter valued at about $304,000. Finally, Alpine Woods Capital Investors LLC purchased a new position in MidWestOne Financial Group during the 2nd quarter valued at about $203,000. 46.44% of the stock is currently owned by institutional investors and hedge funds.

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A number of research analysts have commented on MOFG shares. BidaskClub raised shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $37.00 target price on shares of MidWestOne Financial Group and gave the company a “hold” rating in a research report on Thursday, July 27th.

In other news, Director Kurt R. Weise sold 889 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $32.91, for a total transaction of $29,256.99. Following the sale, the director now owns 2,275 shares of the company’s stock, valued at $74,870.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.30% of the stock is currently owned by corporate insiders.

MidWestOne Financial Group, Inc. (MOFG) opened at 35.92 on Friday. The firm’s 50-day moving average is $33.57 and its 200-day moving average is $34.29. MidWestOne Financial Group, Inc. has a 52-week low of $27.93 and a 52-week high of $39.20. The stock has a market cap of $438.87 million, a P/E ratio of 17.48 and a beta of 1.25.

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, hitting the Thomson Reuters’ consensus estimate of $0.59. The business had revenue of $31.57 million for 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%. Equities research analysts predict that MidWestOne Financial Group, Inc. will post $2.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, August 30th. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s dividend payout ratio is currently 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.

Institutional Ownership by Quarter for MidWestOne Financial Group (NASDAQ:MOFG)

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