BidaskClub Downgrades MutualFirst Financial (MFSF) to Hold

MutualFirst Financial (NASDAQ:MFSF) was downgraded by stock analysts at BidaskClub 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 weighed in on MFSF. ValuEngine lowered shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 target price on shares of MutualFirst Financial in a research report on Sunday, October 8th. Five equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $36.67.

MutualFirst Financial (NASDAQ MFSF) traded down $0.25 during mid-day trading on Tuesday, hitting $37.55. 3,845 shares of the company traded hands, compared to its average volume of 9,402. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 1.01. MutualFirst Financial has a 1-year low of $29.20 and a 1-year high of $40.50. The firm has a market cap of $279.32, a price-to-earnings ratio of 20.11, a PEG ratio of 3.89 and a beta of 0.33.

MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $16.70 million during the quarter, compared to analyst estimates of $17.00 million. MutualFirst Financial had a net margin of 18.68% and a return on equity of 9.73%. sell-side analysts anticipate that MutualFirst Financial will post 1.94 earnings per share for the current fiscal year.

In other news, insider Charles J. Viater sold 1,846 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $39.55, for a total transaction of $73,009.30. Following the completion of the transaction, the insider now owns 187,822 shares of the company’s stock, valued at $7,428,360.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry Dean Mcvicker sold 3,599 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $40.03, for a total transaction of $144,067.97. Following the transaction, the director now directly owns 36,550 shares of the company’s stock, valued at approximately $1,463,096.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,694 shares of company stock valued at $501,101. Company insiders own 11.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of MutualFirst Financial by 9.7% during the second 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 last quarter. SG Americas Securities LLC raised its position in shares of MutualFirst Financial by 10.7% during the second quarter. SG Americas Securities LLC now owns 5,992 shares of the bank’s stock valued at $214,000 after buying an additional 578 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MutualFirst Financial by 2.2% during the first quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock valued at $1,526,000 after buying an additional 1,062 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of MutualFirst Financial by 7.4% during the second quarter. TIAA CREF Investment Management LLC now owns 16,028 shares of the bank’s stock valued at $572,000 after buying an additional 1,107 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of MutualFirst Financial by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 26,997 shares of the bank’s stock valued at $964,000 after buying an additional 1,240 shares during the last quarter. 47.49% of the stock is owned by institutional investors and hedge funds.

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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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