MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Short Interest Down 13.0% in January

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

Analyst Ratings Changes

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

Institutional Trading of MidWestOne Financial Group

Several large investors have recently bought and sold shares of MOFG. Dimensional Fund Advisors LP boosted its position in MidWestOne Financial Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 707,071 shares of the financial services provider’s stock valued at $15,901,000 after acquiring an additional 25,767 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of MidWestOne Financial Group during the second quarter valued at approximately $247,000. Bank of Montreal Can purchased a new position in shares of MidWestOne Financial Group during the second quarter valued at approximately $388,000. SG Americas Securities LLC purchased a new position in shares of MidWestOne Financial Group during the third quarter valued at approximately $163,000. Finally, Sippican Capital Advisors lifted its holdings in shares of 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. 65.42% of the stock is owned by institutional investors.

MidWestOne Financial Group Stock Up 0.1 %

Shares of NASDAQ:MOFG opened at $31.63 on Monday. MidWestOne Financial Group has a 52-week low of $19.43 and a 52-week high of $34.56. The firm has a fifty day moving average of $30.81 and a 200 day moving average of $29.49. 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 announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping 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%. Sell-side analysts forecast that MidWestOne Financial Group will post 3.12 EPS for the current fiscal year.

MidWestOne Financial Group Cuts Dividend

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

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.