JPMorgan Chase & Co. Boosts Stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

JPMorgan Chase & Co. increased its position in shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 about 0.21% of MidWestOne Financial Group worth $843,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of MOFG. State Street Corp boosted its position in MidWestOne Financial Group by 26.9% in the fourth quarter. State Street Corp now owns 141,405 shares of the financial services provider’s stock worth $5,317,000 after buying an additional 29,977 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MidWestOne Financial Group by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 163,289 shares of the financial services provider’s stock worth $6,140,000 after buying an additional 14,101 shares during the last quarter. Renaissance Technologies LLC boosted its position in MidWestOne Financial Group by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 123,100 shares of the financial services provider’s stock worth $4,629,000 after buying an additional 11,800 shares during the last quarter. Nationwide Fund Advisors boosted its position in 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 worth $501,000 after buying an additional 8,475 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in MidWestOne Financial Group by 482.5% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 150,908 shares of the financial services provider’s stock worth $5,175,000 after buying an additional 125,000 shares during the period. Institutional investors and hedge funds own 44.28% of the company’s stock.

Shares of MidWestOne Financial Group, Inc. (MOFG) traded up 0.09% during mid-day trading on Friday, reaching $32.77. The company’s stock had a trading volume of 17,699 shares. MidWestOne Financial Group, Inc. has a one year low of $27.93 and a one year high of $39.20. The firm has a market cap of $400.38 million, a PE ratio of 15.95 and a beta of 1.23. The firm’s 50 day moving average is $34.18 and its 200 day moving average is $34.94.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. MidWestOne Financial Group had a net margin of 17.60% and a return on equity of 7.55%. The company had revenue of $31.57 million for the quarter, compared to the consensus estimate of $31.17 million. On average, equities analysts anticipate that MidWestOne Financial Group, Inc. will post $2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.17 per share. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 30th. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently 32.20%.

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A number of research firms have recently weighed in on MOFG. BidaskClub lowered MidWestOne Financial Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $40.00 target price on shares of MidWestOne Financial Group in a research report on Friday, May 19th. Finally, Piper Jaffray Companies set a $37.00 target price on MidWestOne Financial Group and gave the stock a “hold” rating in a research report on Thursday, July 27th.

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.

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

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