Royce & Associates LP Lowers Stock Holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG)

Royce & Associates LP reduced its stake in MidWestOne Financial Group, Inc. (NASDAQ:MOFGGet Rating) by 25.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,100 shares of the financial services provider’s stock after selling 20,701 shares during the quarter. Royce & Associates LP owned 0.38% of MidWestOne Financial Group worth $1,956,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Shell Asset Management Co. lifted its holdings in shares of MidWestOne Financial Group by 2.9% in the 4th quarter. Shell Asset Management Co. now owns 18,149 shares of the financial services provider’s stock valued at $587,000 after buying an additional 504 shares during the period. Denali Advisors LLC raised its holdings in MidWestOne Financial Group by 87.5% during the first quarter. Denali Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 700 shares during the last quarter. Lazard Asset Management LLC acquired a new position in MidWestOne Financial Group during the fourth quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in MidWestOne Financial Group during the fourth quarter worth $50,000. Finally, First Trust Advisors LP raised its holdings in MidWestOne Financial Group by 4.5% during the fourth quarter. First Trust Advisors LP now owns 46,755 shares of the financial services provider’s stock worth $1,513,000 after purchasing an additional 2,008 shares during the last quarter. 65.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised MidWestOne Financial Group from a “hold” rating to a “buy” rating in a report on Monday, August 1st.

MidWestOne Financial Group Stock Performance

Shares of MOFG stock opened at $31.90 on Friday. The stock has a fifty day moving average price of $30.08 and a 200 day moving average price of $30.83. The stock has a market cap of $498.76 million, a PE ratio of 8.81 and a beta of 0.91. MidWestOne Financial Group, Inc. has a 1 year low of $27.44 and a 1 year high of $34.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 0.62.

MidWestOne Financial Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.237 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.97%. MidWestOne Financial Group’s dividend payout ratio (DPR) is 26.24%.

MidWestOne Financial Group Profile

(Get Rating)

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 deposit products, such as noninterest bearing and interest-bearing demand deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit, and time deposits.

Further Reading

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

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