MidWestOne Financial Group (NASDAQ:MOFG) Shares Pass Above 200 Day Moving Average of $0.00

MidWestOne Financial Group, Inc. (NASDAQ:MOFG)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $29.43. MidWestOne Financial Group shares last traded at $29.36, with a volume of 73 shares trading hands.

Several brokerages have recently commented on MOFG. ValuEngine raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. BidaskClub raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, July 31st.

The company has a 50 day moving average price of $28.69 and a 200 day moving average price of $28.81. The firm has a market cap of $486.52 million, a price-to-earnings ratio of 11.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.203 dividend. This represents a $0.81 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from MidWestOne Financial Group’s previous quarterly dividend of $0.20. MidWestOne Financial Group’s dividend payout ratio is 31.89%.

In related news, Director Kurt R. Weise sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $30.09, for a total value of $45,135.00. Following the sale, the director now owns 2,731 shares in the company, valued at approximately $82,175.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. MidWestOne Financial Group Inc. purchased a new stake in shares of MidWestOne Financial Group in the 2nd quarter valued at $101,005,000. Morgan Stanley raised its holdings in shares of MidWestOne Financial Group by 381.1% in the 2nd quarter. Morgan Stanley now owns 9,198 shares of the financial services provider’s stock valued at $257,000 after buying an additional 7,286 shares during the period. EJF Capital LLC raised its holdings in shares of MidWestOne Financial Group by 2.8% in the 2nd quarter. EJF Capital LLC now owns 15,792 shares of the financial services provider’s stock valued at $442,000 after buying an additional 432 shares during the period. Vanguard Group Inc. raised its holdings in shares of MidWestOne Financial Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 525,085 shares of the financial services provider’s stock valued at $14,681,000 after buying an additional 9,714 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of MidWestOne Financial Group by 12.2% in the 2nd quarter. BlackRock Inc. now owns 642,881 shares of the financial services provider’s stock valued at $17,975,000 after buying an additional 69,922 shares during the period. Hedge funds and other institutional investors own 33.88% of the company’s stock.

MidWestOne Financial Group Company Profile (NASDAQ:MOFG)

MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including 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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