California State Teachers Retirement System Purchases New Position in MutualFirst Financial Inc. (MFSF)
California State Teachers Retirement System purchased a new stake in shares of MutualFirst Financial Inc. (NASDAQ:MFSF) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 11,411 shares of the company’s stock, valued at approximately $312,000. California State Teachers Retirement System owned about 0.16% of MutualFirst Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 during the last quarter. First Merchants Corp acquired a new stake in MutualFirst Financial during the second quarter worth about $1,095,000. 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 during the last quarter. Bank of New York Mellon Corp boosted its stake in MutualFirst Financial by 107.4% in the second quarter. Bank of New York Mellon Corp now owns 19,726 shares of the company’s stock worth $539,000 after buying an additional 10,213 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in MutualFirst Financial during the second quarter worth about $229,000. 46.50% of the stock is owned by hedge funds and other institutional investors.
Shares of MutualFirst Financial Inc. (NASDAQ:MFSF) remained flat at $27.53 during trading on Monday. The company had a trading volume of 22 shares. The firm has a 50 day moving average of $27.62 and a 200 day moving average of $27.16. The firm has a market capitalization of $201.63 million, a P/E ratio of 16.01 and a beta of 0.46. MutualFirst Financial Inc. has a 52-week low of $21.20 and a 52-week high of $28.99.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that MutualFirst Financial Inc. will post $1.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a 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%.
A number of research firms have recently issued reports on MFSF. Keefe, Bruyette & Woods raised their price objective on MutualFirst Financial from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Saturday, July 30th. Finally, DA Davidson began coverage on MutualFirst Financial in a research report on Thursday, July 21st. They issued an “underperform” rating and a $24.00 price objective for the company.
In other MutualFirst Financial news, insider Charles J. Viater sold 2,777 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $27.80, for a total transaction of $77,200.60. Following the completion of the sale, the insider now directly owns 174,162 shares of the company’s stock, valued at approximately $4,841,703.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles J. Viater sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the sale, the insider now directly owns 176,662 shares of the company’s stock, valued at $4,911,203.60. The disclosure for this sale can be found here. Company insiders own 22.70% 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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