ValuEngine upgraded shares of MutualFirst Financial Inc. (NASDAQ:MFSF) from a hold rating to a buy rating in a research note released on Friday morning.

Several other research firms have also recently commented on MFSF. DA Davidson raised shares of MutualFirst Financial from an underperform rating to a neutral rating and lifted their target price for the stock from $29.00 to $34.00 in a research report on Wednesday, July 26th. Zacks Investment Research cut shares of MutualFirst Financial from a buy rating to a hold rating in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reissued a hold rating and set a $32.00 target price on shares of MutualFirst Financial in a research report on Friday, July 14th. BidaskClub cut shares of MutualFirst Financial from a hold rating to a sell rating in a research report on Sunday, July 16th. Finally, TheStreet cut shares of MutualFirst Financial from a b- rating to a c+ rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $35.33.

MutualFirst Financial (NASDAQ MFSF) opened at 35.20 on Friday. MutualFirst Financial has a 12 month low of $26.30 and a 12 month high of $36.90. The firm’s 50-day moving average price is $34.47 and its 200-day moving average price is $33.36. The firm has a market cap of $259.81 million, a P/E ratio of 19.03 and a beta of 0.35.

MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Tuesday, July 25th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.10. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. The firm had revenue of $16.76 million for the quarter, compared to analysts’ expectations of $16.40 million. On average, equities research analysts expect that MutualFirst Financial will post $1.93 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.82%. MutualFirst Financial’s dividend payout ratio (DPR) is presently 34.59%.

In related news, insider David Wayne Heeter sold 7,285 shares of MutualFirst Financial stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $34.57, for a total value of $251,842.45. Following the sale, the insider now owns 50,715 shares of the company’s stock, valued at approximately $1,753,217.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick C. Botts sold 965 shares of MutualFirst Financial stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $35.37, for a total transaction of $34,132.05. Following the completion of the sale, the chief operating officer now directly owns 23,284 shares in the company, valued at approximately $823,555.08. The disclosure for this sale can be found here. Insiders sold a total of 37,161 shares of company stock worth $1,299,609 in the last ninety days. 11.30% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of MFSF. American International Group Inc. raised its holdings 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 worth $106,000 after purchasing an additional 235 shares during the period. Wells Fargo & Company MN raised its holdings 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 worth $110,000 after purchasing an additional 500 shares during the period. Nationwide Fund Advisors raised its holdings 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 worth $120,000 after purchasing an additional 298 shares during the period. Bank of America Corp DE raised its holdings 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 worth $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 worth approximately $141,000. 46.12% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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