Trexquant Investment LP Purchases 2,481 Shares of MidWestOne Financial Group, Inc. (MOFG)
Trexquant Investment LP lifted its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 38.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,868 shares of the financial services provider’s stock after buying an additional 2,481 shares during the period. Trexquant Investment LP owned about 0.07% of MidWestOne Financial Group worth $299,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC raised its holdings in shares of MidWestOne Financial Group by 133.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,000 shares of the financial services provider’s stock worth $116,000 after buying an additional 1,145 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of MidWestOne Financial Group in the 2nd quarter worth approximately $133,000. SG Americas Securities LLC acquired a new position in shares of MidWestOne Financial Group in the 3rd quarter worth approximately $181,000. Alpine Woods Capital Investors LLC acquired a new position in shares of MidWestOne Financial Group in the 2nd quarter worth approximately $203,000. Finally, Alliancebernstein L.P. acquired a new position in shares of MidWestOne Financial Group in the 2nd quarter worth approximately $217,000. 46.45% of the stock is owned by institutional investors and hedge funds.
In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $35.21, for a total value of $35,210.00. Following the transaction, the director now directly owns 2,275 shares in the company, valued at approximately $80,102.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.30% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.90%. MidWestOne Financial Group’s payout ratio is 33.50%.
A number of brokerages have recently issued reports on MOFG. BidaskClub raised MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research cut MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd.
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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