MutualFirst Financial Inc. (NASDAQ:MFSF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “
Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on MutualFirst Financial from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. DA Davidson started coverage on MutualFirst Financial in a research report on Thursday, July 21st. They issued an “underperform” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. MutualFirst Financial presently has a consensus rating of “Hold” and a consensus price target of $28.00.
MutualFirst Financial (NASDAQ:MFSF) opened at 27.64 on Wednesday. The stock has a market capitalization of $202.44 million, a PE ratio of 16.07 and a beta of 0.58. The firm has a 50-day moving average price of $27.65 and a 200 day moving average price of $26.99. MutualFirst Financial has a 12 month low of $21.20 and a 12 month high of $28.99.
MutualFirst Financial (NASDAQ:MFSF) last issued its earnings results on Monday, July 25th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. MutualFirst Financial had a return on equity of 9.44% and a net margin of 18.35%. Equities analysts anticipate that MutualFirst Financial will post $1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, September 7th. MutualFirst Financial’s payout ratio is 32.37%.
In related news, insider Charles J. Viater sold 2,777 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $27.80, for a total transaction of $77,200.60. Following the transaction, the insider now directly owns 174,162 shares of the company’s stock, valued at approximately $4,841,703.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles J. Viater sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $27.80, for a total value of $27,800.00. Following the transaction, the insider now directly owns 176,662 shares in the company, valued at $4,911,203.60. The disclosure for this sale can be found here. 22.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maltese Capital Management LLC raised its position in shares of MutualFirst Financial by 85.5% in the second quarter. Maltese Capital Management LLC now owns 385,200 shares of the company’s stock valued at $10,535,000 after buying an additional 177,600 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of MutualFirst Financial by 12,274.3% in the second quarter. BlackRock Fund Advisors now owns 128,074 shares of the company’s stock valued at $3,503,000 after buying an additional 127,039 shares in the last quarter. State Street Corp acquired a new position in shares of MutualFirst Financial during the second quarter valued at about $1,492,000. First Merchants Corp acquired a new position in shares of MutualFirst Financial during the second quarter valued at about $1,095,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of MutualFirst Financial by 138.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 57,594 shares of the company’s stock valued at $1,575,000 after buying an additional 33,458 shares in the last quarter. 46.50% of the stock is currently owned by institutional investors.
About MutualFirst Financial
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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