Northern Trust Corp Has $4.60 Million Position in MidWestOne Financial Group, Inc. (MOFG)

Northern Trust Corp boosted its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 27.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,656 shares of the financial services provider’s stock after purchasing an additional 29,598 shares during the period. Northern Trust Corp owned about 1.11% of MidWestOne Financial Group worth $4,597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Menta Capital LLC bought a new position in MidWestOne Financial Group during the 2nd quarter valued at about $450,000. New York State Common Retirement Fund lifted its holdings in MidWestOne Financial Group by 27.8% during the 2nd quarter. New York State Common Retirement Fund now owns 13,800 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 2,999 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in MidWestOne Financial Group during the 2nd quarter valued at about $8,890,000. TIAA CREF Investment Management LLC lifted its holdings in MidWestOne Financial Group by 36.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 30,695 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 8,148 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in MidWestOne Financial Group by 41.5% during the 2nd quarter. Teachers Advisors LLC now owns 19,702 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 5,783 shares during the last quarter. 47.14% of the stock is owned by hedge funds and other institutional investors.

In other MidWestOne Financial Group news, Director Kurt R. Weise sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $35.21, for a total value of $35,210.00. Following the completion of the sale, the director now owns 2,275 shares in the company, valued at approximately $80,102.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt R. Weise sold 889 shares of the firm’s 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 completion of the sale, the director now owns 2,275 shares of the company’s stock, valued at approximately $74,870.25. The disclosure for this sale can be found here. Company insiders own 25.30% of the company’s stock.

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MOFG has been the subject of several analyst reports. Zacks Investment Research downgraded shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Piper Jaffray Companies set a $37.00 price objective on shares of MidWestOne Financial Group and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub upgraded shares of MidWestOne Financial Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd.

Shares of MidWestOne Financial Group, Inc. (MOFG) opened at $34.63 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $423.14, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23. MidWestOne Financial Group, Inc. has a 1 year low of $30.56 and a 1 year high of $39.20.

The business 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. This represents a $0.68 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, November 30th. MidWestOne Financial Group’s payout ratio is presently 33.50%.

MidWestOne Financial Group 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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