Royce & Associates LP increased its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 22.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 669,750 shares of the financial services provider’s stock after buying an additional 123,036 shares during the period. Royce & Associates LP owned 5.48% of MidWestOne Financial Group worth $22,698,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MOFG. Nationwide Fund Advisors raised 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. Emerald Mutual Fund Advisers Trust raised its position in shares of 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 valued at $5,175,000 after buying an additional 125,000 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of MidWestOne Financial Group during the first quarter valued at $343,000. LSV Asset Management raised its position in shares of MidWestOne Financial Group by 28.0% in the first quarter. LSV Asset Management now owns 123,220 shares of the financial services provider’s stock valued at $4,225,000 after buying an additional 26,964 shares during the last quarter. Finally, AT Bancorp raised its position in shares of MidWestOne Financial Group by 5.5% in the first quarter. AT Bancorp now owns 304,134 shares of the financial services provider’s stock valued at $10,429,000 after buying an additional 15,878 shares during the last quarter. Institutional investors and hedge funds own 46.44% of the company’s stock.

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) opened at 32.86 on Tuesday. The company has a market cap of $401.48 million, a price-to-earnings ratio of 15.99 and a beta of 1.23. The company’s 50-day moving average is $33.98 and its 200 day moving average is $34.86. MidWestOne Financial Group, Inc. has a 12 month low of $27.93 and a 12 month high of $39.20.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.17 per share. This is a boost from MidWestOne Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.07%. MidWestOne Financial Group’s payout ratio is presently 32.20%.

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

In related news, Director Kurt R. Weise sold 889 shares of MidWestOne Financial Group stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $32.91, for a total transaction of $29,256.99. Following the transaction, the director now owns 2,275 shares of the company’s stock, valued at $74,870.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.30% of the stock is owned by insiders.

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.

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

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