MidWestOne Financial Group, Inc. (MOFG) Stake Raised by Bank of New York Mellon Corp

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Bank of New York Mellon Corp raised its holdings in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,555 shares of the financial services provider’s stock after buying an additional 18,265 shares during the quarter. Bank of New York Mellon Corp’s holdings in MidWestOne Financial Group were worth $2,099,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ramsey Quantitative Systems grew its position in shares of MidWestOne Financial Group by 38.7% in the 4th quarter. Ramsey Quantitative Systems now owns 5,022 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,400 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of MidWestOne Financial Group during the third quarter valued at approximately $200,000. MetLife Investment Advisors LLC boosted its position in shares of MidWestOne Financial Group by 55.4% during the third quarter. MetLife Investment Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 3,092 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of MidWestOne Financial Group by 19.3% during the fourth quarter. Acadian Asset Management LLC now owns 11,260 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,822 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of MidWestOne Financial Group by 44.1% during the fourth quarter. Rhumbline Advisers now owns 15,551 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 4,758 shares in the last quarter. Hedge funds and other institutional investors own 45.64% of the company’s stock.

NASDAQ MOFG opened at $28.90 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 0.88. MidWestOne Financial Group, Inc. has a twelve month low of $23.80 and a twelve month high of $35.20. The company has a market cap of $351.74 million, a P/E ratio of 11.38, a PEG ratio of 1.16 and a beta of 1.07.

MidWestOne Financial Group (NASDAQ:MOFG) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.03). MidWestOne Financial Group had a net margin of 20.02% and a return on equity of 9.04%. The firm had revenue of $32.37 million for the quarter, compared to the consensus estimate of $32.59 million. Research analysts predict that MidWestOne Financial Group, Inc. will post 3.12 EPS for the current fiscal year.

Several equities research analysts recently weighed in on MOFG shares. BidaskClub upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research lowered MidWestOne Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. ValuEngine upgraded MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Finally, TheStreet upgraded MidWestOne Financial Group from a “c+” rating to a “b-” rating in a research report on Friday, March 1st.

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MidWestOne Financial Group Profile

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, institutional customers, and government agencies in Iowa, Minnesota, Wisconsin, Florida, and Colorado. It offers deposit products, such as checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits.

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

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