MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Short Interest Up 195.1% in December

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 328,500 shares, an increase of 195.1% from the December 15th total of 111,300 shares. Based on an average daily trading volume, of 111,600 shares, the short-interest ratio is currently 2.9 days.

MidWestOne Financial Group Stock Performance

MOFG traded up $0.86 during midday trading on Tuesday, reaching $28.82. The company had a trading volume of 92,528 shares, compared to its average volume of 98,078. The business has a 50-day moving average price of $31.28 and a two-hundred day moving average price of $28.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.78. MidWestOne Financial Group has a 12-month low of $19.43 and a 12-month high of $34.56. The stock has a market cap of $598.74 million, a PE ratio of -6.17 and a beta of 1.05.

MidWestOne Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, December 2nd. MidWestOne Financial Group’s dividend payout ratio is currently -20.77%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On MidWestOne Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOFG. SG Americas Securities LLC purchased a new stake in MidWestOne Financial Group during the 3rd quarter worth about $163,000. Renaissance Technologies LLC bought a new position in shares of MidWestOne Financial Group in the second quarter valued at approximately $247,000. Virtu Financial LLC purchased a new position in MidWestOne Financial Group during the third quarter valued at approximately $261,000. Apella Capital LLC bought a new stake in MidWestOne Financial Group during the 4th quarter worth approximately $268,000. Finally, Hsbc Holdings PLC bought a new position in MidWestOne Financial Group in the 2nd quarter valued at $329,000. 65.42% of the stock is currently owned by institutional investors.

MidWestOne Financial Group Company 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, 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.