MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Short Interest Update

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 285,800 shares, a decrease of 13.0% from the December 31st total of 328,500 shares. Based on an average trading volume of 115,700 shares, the short-interest ratio is presently 2.5 days.

Analysts Set New Price Targets

MOFG has been the topic of several recent analyst reports. Piper Sandler dropped their price target on MidWestOne Financial Group from $33.00 to $31.50 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Hovde Group upped their target price on shares of MidWestOne Financial Group from $30.00 to $33.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. StockNews.com upgraded shares of MidWestOne Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised shares of MidWestOne Financial Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $39.00 in a research report on Tuesday, December 17th.

MidWestOne Financial Group Trading Up 0.1 %

Shares of MOFG traded up $0.03 on Friday, reaching $31.63. 108,704 shares of the company’s stock were exchanged, compared to its average volume of 95,139. The business has a 50 day moving average price of $30.81 and a two-hundred day moving average price of $29.46. MidWestOne Financial Group has a 12 month low of $19.43 and a 12 month high of $34.56. The stock has a market capitalization of $656.96 million, a P/E ratio of -7.79 and a beta of 1.05. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20.

MidWestOne Financial Group (NASDAQ:MOFG) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. MidWestOne Financial Group had a return on equity of 6.54% and a net margin of 9.79%. Research analysts anticipate that MidWestOne Financial Group will post 3.12 earnings per share for the current year.

MidWestOne Financial Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. MidWestOne Financial Group’s dividend payout ratio (DPR) is -23.89%.

Institutional Trading of MidWestOne Financial Group

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of MidWestOne Financial Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,219 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 1,000 shares during the last quarter. Sippican Capital Advisors boosted its position in MidWestOne Financial Group by 1.9% during the third quarter. Sippican Capital Advisors now owns 66,338 shares of the financial services provider’s stock valued at $1,893,000 after purchasing an additional 1,205 shares during the last quarter. SG Americas Securities LLC grew its stake in MidWestOne Financial Group by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 7,723 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 2,014 shares in the last quarter. Empowered Funds LLC increased its position in shares of MidWestOne Financial Group by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the financial services provider’s stock worth $1,715,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of MidWestOne Financial Group by 16.4% during the 4th quarter. Rhumbline Advisers now owns 25,675 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 3,617 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

About MidWestOne Financial Group

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 range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.