Today: Today, MidWestOne Financial Group Inc. (MOFG) Upgrade to “Hold” by The Zacks Investment Research

Today, MidWestOne Financial Group Inc. (MOFG) Upgrade to “Hold” by The Zacks Investment Research

MidWestOne Financial Group Inc. (NASDAQ:MOFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “MIDWESTONE FINANCIAL publicly trades common stock on the NASDAQ under the symbol MOFG. It includes the banking affiliates of MidWestOne Bank, Iowa State Bank & Trust Company, Iowa City, Iowa and First State Bank, Conrad, Iowa and is committed to expansion in existing and new markets to continually enhance shareholder value. “

Shares of MidWestOne Financial Group (NASDAQ:MOFG) opened at 33.95 on Tuesday. MidWestOne Financial Group has a 12-month low of $24.71 and a 12-month high of $35.32. The stock has a 50 day moving average of $31.52 and a 200 day moving average of $29.94. The company has a market cap of $388.22 million, a price-to-earnings ratio of 15.70 and a beta of 1.25.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, November 29th. MidWestOne Financial Group’s dividend payout ratio is 27.95%.

Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of MidWestOne Financial Group by 8.7% in the third quarter. BlackRock Fund Advisors now owns 231,699 shares of the financial services provider’s stock valued at $7,037,000 after buying an additional 18,482 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of MidWestOne Financial Group by 34.0% in the second quarter. Vanguard Group Inc. now owns 181,675 shares of the financial services provider’s stock valued at $5,188,000 after buying an additional 46,106 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of MidWestOne Financial Group during the second quarter valued at about $4,674,000. Dimensional Fund Advisors LP increased its stake in shares of MidWestOne Financial Group by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 139,592 shares of the financial services provider’s stock valued at $3,987,000 after buying an additional 4,738 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of MidWestOne Financial Group by 5.4% in the third quarter. Northern Trust Corp now owns 100,191 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 5,093 shares in the last quarter. 22.20% of the stock is owned by institutional investors and hedge funds.

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 MidWestOne Bank and Central Bank provide service retail banking in the communities in which their respective branch offices are located.

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