Stieven Capital Advisors L.P. Acquires New Stake in MidWestOne Financial Group, Inc. (MOFG)

Stieven Capital Advisors L.P. acquired a new stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) during the first quarter, according to its most recent disclosure with the SEC. The firm acquired 150,000 shares of the financial services provider’s stock, valued at approximately $5,144,000. Stieven Capital Advisors L.P. owned approximately 1.25% of MidWestOne Financial Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TFS Capital LLC bought a new position in MidWestOne Financial Group during the first quarter valued at about $238,000. Stifel Financial Corp bought a new position in MidWestOne Financial Group during the first quarter valued at about $304,000. Smith Moore & CO. bought a new position in MidWestOne Financial Group during the first quarter valued at about $309,000. Trexquant Investment LP bought a new position in MidWestOne Financial Group during the first quarter valued at about $329,000. Finally, Monarch Partners Asset Management LLC bought a new position in MidWestOne Financial Group during the first quarter valued at about $343,000. Hedge funds and other institutional investors own 22.73% of the company’s stock.

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

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) traded down 0.32% on Friday, reaching $34.38. The company’s stock had a trading volume of 31,467 shares. MidWestOne Financial Group, Inc. has a 12 month low of $26.50 and a 12 month high of $39.20. The company has a market cap of $419.78 million, a P/E ratio of 18.28 and a beta of 1.25. The company has a 50-day moving average price of $34.69 and a 200 day moving average price of $35.25.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.91%. MidWestOne Financial Group’s payout ratio is 29.63%.

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Several research analysts have issued reports on the company. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Piper Jaffray Companies assumed coverage on MidWestOne Financial Group in a research note on Thursday, April 6th. They set a “neutral” rating and a $37.00 price objective for the company. Finally, Keefe, Bruyette & Woods assumed coverage on MidWestOne Financial Group in a research note on Monday, April 17th. They set an “outperform” rating and a $40.00 price objective for the company.

In other news, Director John M. Morrison sold 2,000,000 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $32.88, for a total transaction of $65,760,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.30% of the company’s stock.

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.

12 Month Chart for NASDAQ:MOFG

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