MutualFirst Financial Inc. (MFSF) Stock Rating Reaffirmed by DA Davidson
MutualFirst Financial Inc. (NASDAQ:MFSF)‘s stock had its “sell” rating restated by investment analysts at DA Davidson in a report released on Friday. They presently have a $24.00 price target on the stock. DA Davidson’s price target suggests a potential downside of 17.53% from the company’s previous close.
The analysts wrote, “We expect the bulk of these benefits to come into play during the second half of 2017.””
Separately, Zacks Investment Research lowered shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th.
Shares of MutualFirst Financial (NASDAQ:MFSF) opened at 29.10 on Friday. The company’s 50-day moving average is $27.88 and its 200 day moving average is $27.49. The firm has a market capitalization of $213.13 million, a price-to-earnings ratio of 16.53 and a beta of 0.47. MutualFirst Financial has a 52 week low of $21.20 and a 52 week high of $30.00.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. MutualFirst Financial had a net margin of 18.41% and a return on equity of 9.49%. Analysts anticipate that MutualFirst Financial will post $1.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 9th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.20%. This is a positive change from MutualFirst Financial’s previous quarterly dividend of $0.14. MutualFirst Financial’s dividend payout ratio is presently 31.64%.
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In other news, insider Charles J. Viater sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $28.05, for a total value of $56,100.00. Following the completion of the transaction, the insider now directly owns 171,162 shares in the company, valued at $4,801,094.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles J. Viater sold 2,777 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $27.80, for a total transaction of $77,200.60. Following the completion of the transaction, the insider now owns 174,162 shares of the company’s stock, valued at $4,841,703.60. The disclosure for this sale can be found here. 22.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of MutualFirst Financial during the third quarter valued at $2,947,000. California State Teachers Retirement System increased its position in shares of MutualFirst Financial by 0.9% in the third quarter. California State Teachers Retirement System now owns 11,511 shares of the company’s stock valued at $319,000 after buying an additional 100 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of MutualFirst Financial by 32.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 76,528 shares of the company’s stock valued at $2,122,000 after buying an additional 18,934 shares during the period. BlackRock Advisors LLC increased its position in shares of MutualFirst Financial by 18.0% in the third quarter. BlackRock Advisors LLC now owns 3,699 shares of the company’s stock valued at $103,000 after buying an additional 563 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of MutualFirst Financial by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 20,061 shares of the company’s stock valued at $557,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.
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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