MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Sees Large Decline in Short Interest

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 441,218 shares, a decline of 19.9% from the January 29th total of 550,799 shares. Based on an average daily volume of 222,413 shares, the short-interest ratio is presently 2.0 days. Approximately 2.2% of the company’s shares are sold short. Approximately 2.2% of the company’s shares are sold short. Based on an average daily volume of 222,413 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of MidWestOne Financial Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MidWestOne Financial Group currently has an average rating of “Hold” and a consensus target price of $40.50.

MidWestOne Financial Group Price Performance

MidWestOne Financial Group stock opened at $49.31 on Thursday. The company has a market capitalization of $1.02 billion, a P/E ratio of 17.55 and a beta of 1.07. The firm’s fifty day simple moving average is $44.84 and its 200-day simple moving average is $37.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. MidWestOne Financial Group has a 1-year low of $24.62 and a 1-year high of $49.69.

MidWestOne Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were given a $0.2425 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.0%. MidWestOne Financial Group’s payout ratio is currently 34.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MOFG. Quadrant Capital Group LLC lifted its holdings in MidWestOne Financial Group by 128.3% in the 4th quarter. Quadrant Capital Group LLC now owns 710 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 399 shares during the last quarter. Federated Hermes Inc. raised its position in shares of MidWestOne Financial Group by 129.2% in the third quarter. Federated Hermes Inc. now owns 1,242 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 700 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of MidWestOne Financial Group by 12,135.7% in the third quarter. Russell Investments Group Ltd. now owns 1,713 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,699 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of MidWestOne Financial Group by 402.1% during the 4th quarter. Signaturefd LLC now owns 2,124 shares of the financial services provider’s stock worth $82,000 after buying an additional 1,701 shares during the period. Finally, CWM LLC boosted its holdings in shares of MidWestOne Financial Group by 238.8% during the 2nd quarter. CWM LLC now owns 3,175 shares of the financial services provider’s stock worth $91,000 after buying an additional 2,238 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.

MidWestOne Financial Group Company Profile

MidWestOne Financial Group, Inc (NASDAQ: MOFG) is a registered bank holding company headquartered in West Des Moines, Iowa. Through its principal subsidiary, MidWestOne Bank, the company provides a comprehensive range of commercial and consumer banking products and services. Its commercial banking division offers business lending solutions, including commercial real estate loans, business lines of credit, equipment financing and treasury management services. For individual customers, MidWestOne delivers checking and savings accounts, home mortgage and home equity loans, and personal lending solutions.

Beyond traditional banking, MidWestOne offers trust, wealth management and insurance services through specialized teams of financial advisors.