Insider Buying: MidWestOne Financial Group, Inc. (MOFG) Director Purchases 700 Shares of Stock

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Director Richard R. Donohue acquired 700 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was acquired at an average cost of $29.19 per share, with a total value of $20,433.00. Following the acquisition, the director now directly owns 14,545 shares in the company, valued at $424,568.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NASDAQ:MOFG traded down $0.13 during midday trading on Wednesday, hitting $28.81. The stock had a trading volume of 21,800 shares, compared to its average volume of 26,512. The stock has a market capitalization of $345.86 million, a PE ratio of 15.97, a PEG ratio of 1.39 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. MidWestOne Financial Group, Inc. has a fifty-two week low of $28.22 and a fifty-two week high of $37.94.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Saturday, December 1st will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, November 29th. MidWestOne Financial Group’s payout ratio is presently 43.09%.

Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. BidaskClub cut shares of MidWestOne Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Finally, ValuEngine cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th.

Several large investors have recently modified their holdings of the company. Royce & Associates LP raised its position in shares of MidWestOne Financial Group by 1.4% in the 2nd quarter. Royce & Associates LP now owns 733,424 shares of the financial services provider’s stock valued at $24,775,000 after buying an additional 10,102 shares in the last quarter. BlackRock Inc. raised its position in shares of MidWestOne Financial Group by 6.4% in the 2nd quarter. BlackRock Inc. now owns 565,800 shares of the financial services provider’s stock valued at $19,113,000 after buying an additional 34,126 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MidWestOne Financial Group by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 334,154 shares of the financial services provider’s stock valued at $11,288,000 after buying an additional 25,575 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of MidWestOne Financial Group by 4.2% in the 2nd quarter. Renaissance Technologies LLC now owns 208,000 shares of the financial services provider’s stock valued at $7,026,000 after buying an additional 8,300 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of MidWestOne Financial Group by 17.4% in the 2nd quarter. LSV Asset Management now owns 142,898 shares of the financial services provider’s stock valued at $4,827,000 after buying an additional 21,149 shares in the last quarter. Institutional investors own 45.69% of the company’s stock.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services to individuals, businesses, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.

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