MutualFirst Financial Inc. (MFSF) Downgraded to Hold at Zacks Investment Research
According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “
MFSF has been the subject of several other reports. Keefe, Bruyette & Woods increased their price target 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 report on Thursday, July 21st. They set an underperform rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $28.00.
MutualFirst Financial (NASDAQ:MFSF) remained flat at $27.58 during midday trading on Wednesday. MutualFirst Financial has a 12 month low of $21.20 and a 12 month high of $28.99. The firm has a 50-day moving average of $27.65 and a 200-day moving average of $27.00. The firm has a market capitalization of $202.00 million, a price-to-earnings ratio of 16.03 and a beta of 0.58.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly 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%. On average, analysts predict that MutualFirst Financial will post $1.66 EPS for the current year.
The company 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 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, September 7th. MutualFirst Financial’s dividend payout ratio is currently 32.37%.
In other news, insider Charles J. Viater sold 2,777 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $27.80, for a total value of $77,200.60. Following the completion of the transaction, the insider now owns 174,162 shares in the company, valued at $4,841,703.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles J. Viater sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $27.80, for a total value of $27,800.00. Following the completion of the transaction, the insider now owns 176,662 shares of the company’s stock, valued at approximately $4,911,203.60. The disclosure for this sale can be found here. 22.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MFSF. Geode Capital Management LLC boosted its stake in MutualFirst Financial by 3.5% in the first quarter. Geode Capital Management LLC now owns 34,717 shares of the company’s stock worth $874,000 after buying an additional 1,182 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in MutualFirst Financial by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 378,257 shares of the company’s stock worth $10,345,000 after buying an additional 1,247 shares in the last quarter. Pinnacle Holdings LLC boosted its stake in MutualFirst Financial by 6.4% in the first quarter. Pinnacle Holdings LLC now owns 33,928 shares of the company’s stock worth $855,000 after buying an additional 2,050 shares in the last quarter. James Investment Research Inc. boosted its stake in MutualFirst Financial by 19.3% in the second quarter. James Investment Research Inc. now owns 23,125 shares of the company’s stock worth $632,000 after buying an additional 3,740 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in MutualFirst Financial by 6.4% in the first quarter. Renaissance Technologies LLC now owns 116,800 shares of the company’s stock worth $2,943,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 46.50% 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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