MutualFirst Financial Inc. (MFSF) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of MutualFirst Financial Inc. (NASDAQ:MFSF) from a hold rating to a buy rating in a report issued on Friday morning.
A number of other brokerages also recently weighed in on MFSF. Zacks Investment Research downgraded shares of MutualFirst Financial from a buy rating to a hold rating in a research report on Wednesday, June 28th. TheStreet downgraded shares of MutualFirst Financial from a b- rating to a c+ rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of MutualFirst Financial from a hold rating to a sell rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $32.00 price objective on shares of MutualFirst Financial in a research report on Friday, July 14th. Finally, DA Davidson upgraded shares of MutualFirst Financial from an underperform rating to a neutral rating and upped their price objective for the stock from $29.00 to $34.00 in a research report on Wednesday, July 26th. One 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 company. The company presently has a consensus rating of Hold and an average price target of $35.33.
Shares of MutualFirst Financial (NASDAQ:MFSF) opened at 35.20 on Friday. The company has a market capitalization of $259.81 million, a PE ratio of 19.03 and a beta of 0.35. The firm’s 50-day moving average price is $34.47 and its 200-day moving average price is $33.36. MutualFirst Financial has a 12-month low of $26.30 and a 12-month high of $36.90.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $16.76 million during the quarter, compared to the consensus estimate of $16.40 million. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. On average, 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 given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.82%. MutualFirst Financial’s dividend payout ratio (DPR) is presently 34.59%.
In other news, COO Patrick C. Botts sold 942 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $34.75, for a total value of $32,734.50. Following the completion of the sale, the chief operating officer now owns 23,261 shares of the company’s stock, valued at approximately $808,319.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Wayne Heeter sold 7,285 shares of the 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 completion of the sale, the insider now directly owns 50,715 shares of the company’s stock, valued at approximately $1,753,217.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,161 shares of company stock valued at $1,299,609. Insiders own 11.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. grew its stake 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 buying an additional 235 shares during the period. Nationwide Fund Advisors grew its stake 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 valued at $120,000 after buying an additional 298 shares during the period. Wells Fargo & Company MN grew its stake 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 valued at $110,000 after buying an additional 500 shares during the period. Bank of America Corp DE grew its stake 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 valued at $124,000 after buying an additional 3,183 shares during the period. Finally, Advisor Group Inc. purchased a new stake in shares of MutualFirst Financial in the 2nd quarter valued at approximately $141,000. 46.12% of the stock is owned by institutional investors and hedge funds.
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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