MutualFirst Financial Inc. (NASDAQ:MFSF) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also commented on MFSF. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $32.00 price objective on shares of MutualFirst Financial in a research note on Friday, July 14th. BidaskClub lowered shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. DA Davidson upgraded shares of MutualFirst Financial from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $34.00 in a research note on Wednesday, July 26th. TheStreet lowered shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. MutualFirst Financial currently has a consensus rating of “Hold” and a consensus target price of $36.67.

Shares of MutualFirst Financial (NASDAQ:MFSF) opened at 39.70 on Tuesday. MutualFirst Financial has a 12-month low of $26.30 and a 12-month high of $40.00. The company has a 50 day moving average price of $36.53 and a 200-day moving average price of $34.45. The firm has a market cap of $293.03 million, a PE ratio of 21.46 and a beta of 0.36.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.52 EPS for the quarter, beating the Zacks’ 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 business had revenue of $16.76 million for the quarter, compared to analyst estimates of $16.40 million. Analysts expect that MutualFirst Financial will post $1.92 EPS for the current year.

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In other MutualFirst Financial 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 transaction of $251,842.45. Following the transaction, the insider now directly owns 50,715 shares in the company, valued at approximately $1,753,217.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Patrick C. Botts sold 1,000 shares of MutualFirst Financial stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $34.50, for a total transaction of $34,500.00. Following the transaction, the chief operating officer now owns 23,319 shares in the company, valued at $804,505.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,498 shares of company stock worth $1,101,669. 11.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in MutualFirst Financial by 96.5% during the 2nd quarter. State Street Corp now owns 133,260 shares of the bank’s stock worth $4,761,000 after purchasing an additional 65,441 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in MutualFirst Financial during the 2nd quarter worth approximately $525,000. Dimensional Fund Advisors LP grew its position in MutualFirst Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,647 shares of the bank’s stock worth $14,232,000 after purchasing an additional 10,625 shares in the last quarter. Advisor Group Inc. purchased a new position in MutualFirst Financial during the 2nd quarter worth approximately $141,000. Finally, Vanguard Group Inc. grew its position in MutualFirst Financial by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 193,315 shares of the bank’s stock worth $6,901,000 after purchasing an additional 1,473 shares in the last quarter. Hedge funds and other institutional investors own 46.12% 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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