Rhumbline Advisers Purchases 3,617 Shares of MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Rhumbline Advisers boosted its position in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,675 shares of the financial services provider’s stock after purchasing an additional 3,617 shares during the period. Rhumbline Advisers owned 0.12% of MidWestOne Financial Group worth $748,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in shares of MidWestOne Financial Group in the third quarter valued at approximately $22,186,000. Wellington Management Group LLP grew its holdings in MidWestOne Financial Group by 318.0% during the 3rd quarter. Wellington Management Group LLP now owns 800,334 shares of the financial services provider’s stock worth $22,834,000 after acquiring an additional 608,883 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in MidWestOne Financial Group in the 3rd quarter valued at approximately $7,094,000. Jacobs Asset Management LLC acquired a new position in MidWestOne Financial Group in the 3rd quarter valued at approximately $5,739,000. Finally, Stieven Capital Advisors L.P. bought a new position in shares of MidWestOne Financial Group during the third quarter valued at $5,706,000. 65.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MOFG has been the subject of a number of recent research reports. Hovde Group increased their price objective on MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th.

MidWestOne Financial Group Trading Down 0.5 %

MOFG opened at $29.24 on Friday. The stock has a market cap of $607.46 million, a PE ratio of -7.20 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.20. MidWestOne Financial Group, Inc. has a twelve month low of $19.43 and a twelve month high of $34.56. The company has a fifty day moving average of $30.45 and a 200-day moving average of $30.13.

MidWestOne Financial Group (NASDAQ:MOFG) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. On average, sell-side analysts predict that MidWestOne Financial Group, Inc. will post 3.2 EPS for the current year.

MidWestOne Financial Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is presently -23.89%.

About MidWestOne Financial Group

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, governmental units, and institutional customers. It offers range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.