MidWestOne Financial Group, Inc. (NASDAQ:MOFG) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 82,400 shares, a growth of 43.3% from the May 30th total of 57,500 shares. Based on an average trading volume of 28,900 shares, the short-interest ratio is presently 2.9 days. Approximately 0.8% of the shares of the stock are short sold.
Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Finally, ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd.
In related news, Director Richard J. Hartig acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $29.04 per share, for a total transaction of $29,040.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought 1,600 shares of company stock valued at $45,815 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of MOFG. Dimensional Fund Advisors LP grew its holdings in shares of MidWestOne Financial Group by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 384,210 shares of the financial services provider’s stock valued at $9,540,000 after buying an additional 27,446 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of MidWestOne Financial Group by 27.6% in the 4th quarter. Bank of New York Mellon Corp now owns 84,555 shares of the financial services provider’s stock valued at $2,099,000 after buying an additional 18,265 shares during the period. BlackRock Inc. grew its holdings in shares of MidWestOne Financial Group by 3.0% in the 4th quarter. BlackRock Inc. now owns 591,057 shares of the financial services provider’s stock valued at $14,676,000 after buying an additional 17,183 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of MidWestOne Financial Group by 5.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 275,877 shares of the financial services provider’s stock valued at $6,850,000 after buying an additional 14,489 shares during the period. Finally, Bailard Inc. acquired a new position in shares of MidWestOne Financial Group in the 1st quarter valued at $341,000. Institutional investors own 33.91% of the company’s stock.
Shares of MidWestOne Financial Group stock traded up $0.51 on Friday, hitting $27.78. 29,100 shares of the company’s stock traded hands, compared to its average volume of 25,193. The firm has a 50-day moving average price of $27.83. The company has a market cap of $454.52 million, a PE ratio of 10.80, a PEG ratio of 1.18 and a beta of 0.96. MidWestOne Financial Group has a one year low of $23.80 and a one year high of $35.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.45.
MidWestOne Financial Group (NASDAQ:MOFG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). The business had revenue of $31.39 million for the quarter, compared to the consensus estimate of $32.02 million. MidWestOne Financial Group had a net margin of 19.41% and a return on equity of 8.80%. Research analysts expect that MidWestOne Financial Group will post 2.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, April 29th were given a dividend of $0.2025 per share. This represents a $0.81 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, April 26th. MidWestOne Financial Group’s payout ratio is 31.89%.
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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