MutualFirst Financial Inc. (NASDAQ:MFSF) – Equities researchers at DA Davidson reduced their FY2017 earnings estimates for shares of MutualFirst Financial in a research note issued on Wednesday. DA Davidson analyst K. Reevey now expects that the bank will post earnings of $1.97 per share for the year, down from their previous estimate of $1.98. DA Davidson has a “Neutral” rating and a $34.00 price objective on the stock. DA Davidson also issued estimates for MutualFirst Financial’s Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.54 EPS and Q4 2018 earnings at $0.55 EPS.
Several other research firms have also recently issued reports on MFSF. TheStreet cut shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub lowered shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. ValuEngine raised shares of MutualFirst Financial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of MutualFirst Financial in a report on Sunday, October 8th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $36.67.
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Shares of MutualFirst Financial (NASDAQ MFSF) opened at 40.35 on Thursday. MutualFirst Financial has a 12-month low of $26.30 and a 12-month high of $40.50. The firm has a market capitalization of $297.82 million, a P/E ratio of 21.81 and a beta of 0.36. The stock has a 50 day moving average price of $38.19 and a 200 day moving average price of $35.14.
MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $16.70 million during the quarter, compared to the consensus estimate of $17.00 million. MutualFirst Financial had a return on equity of 9.86% and a net margin of 18.68%.
In related news, insider David Wayne Heeter sold 12,065 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $35.16, for a total transaction of $424,205.40. Following the sale, the insider now directly owns 49,951 shares in the company, valued at $1,756,277.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick C. Botts sold 5,859 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.17, for a total transaction of $206,061.03. Following the sale, the chief operating officer now owns 27,017 shares in the company, valued at $950,187.89. The disclosure for this sale can be found here. Insiders have sold 25,209 shares of company stock worth $882,109 in the last three months. Corporate insiders own 11.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. First Quadrant L P CA purchased a new stake in shares of MutualFirst Financial during the third quarter worth approximately $112,000. State Street Corp increased its stake in shares of MutualFirst Financial by 96.5% during the second quarter. State Street Corp now owns 133,260 shares of the bank’s stock worth $4,761,000 after buying an additional 65,441 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of MutualFirst Financial during the second quarter worth approximately $525,000. Dimensional Fund Advisors LP increased its stake in shares of MutualFirst Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 398,647 shares of the bank’s stock worth $14,232,000 after buying an additional 10,625 shares during the period. Finally, Advisor Group Inc. purchased a new stake in shares of MutualFirst Financial during the second quarter worth approximately $141,000. Hedge funds and other institutional investors own 46.13% 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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