Midwestone Financial Group Inc. (NASDAQ:MOFG) is Attracting Smart Money

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Midwestone Financial Group Inc. (NASDAQ:MOFG) reported that Morrison John M has picked up 431,393 of common stock as of 2017-03-30.

The acquisition brings the aggregate amount owned by Morrison John M to a total of 431,393 representing a 3.6% stake in the company.

For those not familiar with the company, 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. Its deposit products include checking and other demand deposit accounts, negotiable order of withdrawal accounts, savings accounts, certificates of deposit, individual retirement accounts, non-interest-bearing demand deposits and money market accounts. MidWestOne Bank and Central Bank offer commercial and industrial, agricultural, real estate mortgage and consumer loans. Other products and services include debit cards, automated teller machines, online banking, mobile banking and safe deposit boxes. The principal service consists of making loans to and accepting deposits from individuals, businesses, governmental units and institutional customers.

A glance at Midwestone Financial Group Inc. (NASDAQ:MOFG)’s key stats reveals a current market capitalization of 409.61 Million based on 11.96 Million shares outstanding and a price at last close of $34.24 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-08-09, Hatch picked up 1,000 at a purchase price of $28.84. This brings their total holding to 1,035 as of the date of the filing.

On the sell side, the most recent transaction saw Morrison unload 2,000,000 shares at a sale price of $32.88. This brings their total holding to 245,693.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Midwestone Financial Group Inc. (NASDAQ:MOFG) as things move forward to see if its progress aligns with these transactions.

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