MutualFirst Financial (NASDAQ:MFSF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, December 27th. The brokerage currently has a $43.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.98% from the stock’s previous close.
According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “
Other research analysts also recently issued research reports about the company. ValuEngine downgraded MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price target on shares of MutualFirst Financial in a research note on Sunday, October 8th. Finally, BidaskClub downgraded MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.67.
Shares of MutualFirst Financial (NASDAQ MFSF) opened at $38.40 on Wednesday. The company has a market cap of $283.75, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.42 and a beta of 0.33. 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.
MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the 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 9.73% and a net margin of 18.68%. sell-side analysts predict that MutualFirst Financial will post 1.94 earnings per share for the current fiscal year.
In related news, insider Charles J. Viater sold 710 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.95, for a total transaction of $28,364.50. Following the sale, the insider now directly owns 188,452 shares of the company’s stock, valued at approximately $7,528,657.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry Dean Mcvicker sold 3,599 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $40.03, for a total value of $144,067.97. Following the sale, the director now directly owns 36,550 shares in the company, valued at $1,463,096.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,315 shares of company stock valued at $603,775. Company insiders own 11.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of MutualFirst Financial by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 417,640 shares of the bank’s stock valued at $16,058,000 after acquiring an additional 18,993 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of MutualFirst Financial by 47.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 21,700 shares of the bank’s stock valued at $834,000 after acquiring an additional 7,000 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of MutualFirst Financial by 170.8% during the 3rd quarter. Wells Fargo & Company MN now owns 9,455 shares of the bank’s stock valued at $363,000 after acquiring an additional 5,964 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of MutualFirst Financial during the 3rd quarter valued at approximately $423,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of MutualFirst Financial during the 3rd quarter valued at approximately $101,000. 47.49% of the stock is currently 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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