Short Interest in MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Expands By 5.2%

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 73,200 shares, an increase of 5.2% from the June 30th total of 69,600 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 32,700 shares, the days-to-cover ratio is currently 2.2 days.

Shares of MOFG stock traded up $1.38 on Friday, hitting $30.42. 28,600 shares of the company’s stock were exchanged, compared to its average volume of 24,761. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. MidWestOne Financial Group has a 12 month low of $23.80 and a 12 month high of $35.20. The stock has a market cap of $486.52 million, a P/E ratio of 11.98 and a beta of 0.97. The company has a 50 day moving average of $28.69 and a 200 day moving average of $28.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be given a dividend of $0.203 per share. This is an increase from MidWestOne Financial Group’s previous quarterly dividend of $0.20. This represents a $0.81 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, August 29th. MidWestOne Financial Group’s dividend payout ratio is currently 31.89%.



Several analysts have recently issued reports on MOFG shares. ValuEngine raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Zacks Investment Research raised MidWestOne Financial Group from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Wednesday, July 31st. Finally, BidaskClub raised MidWestOne Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.

In other news, Director Kurt R. Weise sold 1,500 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $30.09, for a total transaction of $45,135.00. Following the sale, the director now directly owns 2,731 shares of the company’s stock, valued at approximately $82,175.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of MidWestOne Financial Group by 0.9% during the 4th quarter. Northern Trust Corp now owns 131,309 shares of the financial services provider’s stock worth $3,260,000 after buying an additional 1,141 shares during the last quarter. AJO LP lifted its position in shares of MidWestOne Financial Group by 2.2% during the 1st quarter. AJO LP now owns 87,809 shares of the financial services provider’s stock worth $2,393,000 after buying an additional 1,850 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of MidWestOne Financial Group by 27.6% during the 4th quarter. Bank of New York Mellon Corp now owns 84,555 shares of the financial services provider’s stock worth $2,099,000 after buying an additional 18,265 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of MidWestOne Financial Group by 16.1% during the 2nd quarter. Bessemer Group Inc. now owns 23,800 shares of the financial services provider’s stock worth $665,000 after buying an additional 3,300 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of MidWestOne Financial Group by 3.0% during the 4th quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock worth $14,676,000 after buying an additional 17,183 shares during the last quarter. Institutional investors and hedge funds own 33.88% of the company’s stock.

About MidWestOne Financial Group

MidWestOne Financial Group, Inc is a bank holding company. It operates through the following subsidiaries: MidWestOne Bank and MidWestOne Insurance Services, Inc The MidWestOne Bank provides retail banking services, which include deposit products, including checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts and other time deposits.

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