JPMorgan Chase & Co. Has $843,000 Stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

JPMorgan Chase & Co. raised its stake in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 0.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 24,579 shares of the financial services provider’s stock after buying an additional 122 shares during the period. JPMorgan Chase & Co. owned 0.21% of MidWestOne Financial Group worth $843,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. TFS Capital LLC acquired a new position in shares of MidWestOne Financial Group during the first quarter valued at $238,000. Smith Moore & CO. acquired a new position in shares of MidWestOne Financial Group during the first quarter valued at $309,000. Trexquant Investment LP acquired a new position in shares of MidWestOne Financial Group during the first quarter valued at $329,000. Monarch Partners Asset Management LLC acquired a new position in shares of MidWestOne Financial Group during the first quarter valued at $343,000. Finally, Nationwide Fund Advisors boosted its position in shares of MidWestOne Financial Group by 138.3% in the first quarter. Nationwide Fund Advisors now owns 14,602 shares of the financial services provider’s stock valued at $501,000 after buying an additional 8,475 shares during the last quarter. 43.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) opened at 32.98 on Friday. The stock has a market cap of $402.95 million, a price-to-earnings ratio of 16.05 and a beta of 1.23. MidWestOne Financial Group, Inc. has a 1-year low of $27.93 and a 1-year high of $39.20. The firm has a 50-day moving average of $34.36 and a 200 day moving average of $35.04.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The firm had revenue of $31.57 million for the quarter, compared to the consensus estimate of $31.17 million. MidWestOne Financial Group had a net margin of 17.60% and a return on equity of 7.55%. Equities research analysts forecast that MidWestOne Financial Group, Inc. will post $2.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 30th. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.17. MidWestOne Financial Group’s dividend payout ratio is currently 32.20%.

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Several brokerages recently weighed in on MOFG. Zacks Investment Research cut shares of MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $37.00 price target on shares of MidWestOne Financial Group and gave the company a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut shares of MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $40.00 price target on shares of MidWestOne Financial Group in a research report on Friday, May 19th.

About MidWestOne Financial Group

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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