$17.20 Million in Sales Expected for MutualFirst Financial Inc. (MFSF) This Quarter
Brokerages expect MutualFirst Financial Inc. (NASDAQ:MFSF) to announce $17.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for MutualFirst Financial’s earnings, with the lowest sales estimate coming in at $16.70 million and the highest estimate coming in at $17.70 million. MutualFirst Financial reported sales of $16.04 million in the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that MutualFirst Financial will report full-year sales of $17.20 million for the current fiscal year, with estimates ranging from $65.50 million to $68.20 million. For the next financial year, analysts anticipate that the company will post sales of $86.35 million per share, with estimates ranging from $84.30 million to $88.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MutualFirst Financial.
MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. MutualFirst Financial had a net margin of 18.68% and a return on equity of 9.73%. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $17.00 million.
Several equities research analysts have commented on MFSF shares. Zacks Investment Research lowered shares of MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine upgraded shares of MutualFirst Financial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of MutualFirst Financial in a report on Sunday, October 8th. TheStreet cut shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a report on Tuesday, July 25th. Finally, DA Davidson upgraded shares of MutualFirst Financial from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $29.00 to $34.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. MutualFirst Financial presently has a consensus rating of “Hold” and an average price target of $36.67.
In related news, insider Charles J. Viater sold 710 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.95, for a total transaction of $28,364.50. Following the completion of the sale, the insider now directly owns 188,452 shares in the company, valued at $7,528,657.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles J. Viater sold 1,846 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $39.55, for a total transaction of $73,009.30. Following the sale, the insider now owns 187,822 shares of the company’s stock, valued at $7,428,360.10. The disclosure for this sale can be found here. Insiders sold 6,285 shares of company stock valued at $250,564 over the last quarter. Insiders own 11.30% of the company’s stock.
A number of large investors have recently modified their holdings of MFSF. Wells Fargo & Company MN boosted its holdings in MutualFirst Financial by 16.7% during the first quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after buying an additional 500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of MutualFirst Financial by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 25,757 shares of the bank’s stock valued at $813,000 after acquiring an additional 1,091 shares in the last quarter. American International Group Inc. lifted its position 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 valued at $106,000 after acquiring an additional 235 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MutualFirst Financial by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 191,842 shares of the bank’s stock valued at $6,053,000 after acquiring an additional 2,715 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of MutualFirst Financial by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 46.59% of the company’s stock.
Shares of MutualFirst Financial (NASDAQ:MFSF) traded up $0.50 during trading hours on Friday, hitting $38.70. 6,172 shares of the company’s stock traded hands, compared to its average volume of 6,625. MutualFirst Financial has a 12 month low of $28.40 and a 12 month high of $40.50. The firm has a market capitalization of $285.97, a price-to-earnings ratio of 20.58, a P/E/G ratio of 3.98 and a beta of 0.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 7th. This is a boost from MutualFirst Financial’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.86%. MutualFirst Financial’s dividend payout ratio (DPR) is 34.04%.
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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