ValuEngine downgraded shares of MutualFirst Financial Inc. (NASDAQ:MFSF) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
Several other brokerages have also issued reports on MFSF. Keefe, Bruyette & Woods restated a hold rating and set a $36.00 price target on shares of MutualFirst Financial in a research note on Sunday, October 8th. Zacks Investment Research lowered MutualFirst Financial from a strong-buy rating to a hold rating in a research note on Wednesday, September 27th. TheStreet lowered MutualFirst Financial from a b- rating to a c+ rating in a research note on Tuesday, July 25th. BidaskClub lowered MutualFirst Financial from a hold rating to a sell rating in a research note on Sunday, July 16th. Finally, DA Davidson upgraded MutualFirst Financial from an underperform rating to a neutral rating and boosted their price target for the company from $29.00 to $34.00 in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of Hold and an average target price of $36.67.
Shares of MutualFirst Financial (MFSF) traded up 0.65% on Tuesday, hitting $38.65. The stock had a trading volume of 2,170 shares. The firm’s 50-day moving average is $36.99 and its 200 day moving average is $34.58. The stock has a market cap of $285.28 million, a P/E ratio of 20.89 and a beta of 0.36. MutualFirst Financial has a 1-year low of $26.30 and a 1-year high of $40.15.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. MutualFirst Financial had a return on equity of 9.66% and a net margin of 18.53%. The firm had revenue of $16.76 million for the quarter, compared to analyst estimates of $16.40 million. Equities analysts forecast that MutualFirst Financial will post $1.93 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.64 annualized dividend and a yield of 1.67%. MutualFirst Financial’s dividend payout ratio is 34.59%.
In other news, COO Patrick C. Botts sold 2,880 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.03, for a total value of $100,886.40. Following the sale, the chief operating officer now directly owns 25,199 shares in the company, valued at approximately $882,720.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Wayne Heeter sold 12,065 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $35.16, for a total value of $424,205.40. Following the completion of the sale, the insider now owns 49,951 shares in the company, valued at $1,756,277.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,498 shares of company stock worth $1,067,169. Corporate insiders own 11.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MFSF. American International Group Inc. grew its stake in shares of MutualFirst Financial by 7.5% in the 1st quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock valued at $106,000 after purchasing an additional 235 shares during the period. Wells Fargo & Company MN grew its stake in shares of MutualFirst Financial by 16.7% in the 1st quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock valued at $110,000 after purchasing an additional 500 shares during the period. Nationwide Fund Advisors grew its stake in shares of MutualFirst Financial by 9.7% in the 2nd quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock valued at $120,000 after purchasing an additional 298 shares during the period. Bank of America Corp DE grew its stake in shares of MutualFirst Financial by 424.4% in the 1st quarter. Bank of America Corp DE now owns 3,933 shares of the bank’s stock valued at $124,000 after purchasing an additional 3,183 shares during the period. Finally, Advisor Group Inc. bought a new stake in shares of MutualFirst Financial in the 2nd quarter valued at approximately $141,000. Institutional investors own 46.12% of the company’s stock.
MutualFirst Financial Company Profile
MutualFirst Financial, Inc (MutualFirst) is the bank holding company of MutualBank (MutualBank or the Bank). The Bank offers financial services through approximately 30 full service retail financial center offices in Allen, Delaware, Elkhart, Grant, Kosciusko, Randolph, Saint Joseph and Wabash counties in Indiana.
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