MutualFirst Financial (MFSF) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of MutualFirst Financial (NASDAQ:MFSF) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “

Several other analysts have also weighed in on MFSF. DA Davidson restated a neutral rating on shares of MutualFirst Financial in a report on Monday, July 30th. TheStreet downgraded MutualFirst Financial from a b rating to a c+ rating in a research report on Friday, July 27th. ValuEngine downgraded MutualFirst Financial from a hold rating to a sell rating in a research report on Saturday, September 22nd. Finally, BidaskClub downgraded MutualFirst Financial from a hold rating to a sell rating in a research report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $39.50.

MFSF traded up $0.23 during mid-day trading on Friday, hitting $36.50. The stock had a trading volume of 1,144 shares, compared to its average volume of 9,057. MutualFirst Financial has a 1-year low of $33.66 and a 1-year high of $40.00. The firm has a market cap of $311.47 million, a PE ratio of 19.11, a price-to-earnings-growth ratio of 3.04 and a beta of 0.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.98 and a current ratio of 0.98.

MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings results on Thursday, October 25th. The bank reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). MutualFirst Financial had a net margin of 16.27% and a return on equity of 10.57%. The company had revenue of $21.46 million for the quarter, compared to analysts’ expectations of $21.65 million. Equities analysts forecast that MutualFirst Financial will post 2.39 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new position in MutualFirst Financial in the 2nd quarter valued at $882,000. Rhumbline Advisers bought a new position in MutualFirst Financial in the 2nd quarter valued at $209,000. Dimensional Fund Advisors LP grew its position in MutualFirst Financial by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 446,609 shares of the bank’s stock valued at $16,190,000 after acquiring an additional 9,736 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of MutualFirst Financial by 8.9% during the 2nd quarter. Renaissance Technologies LLC now owns 232,347 shares of the bank’s stock worth $8,771,000 after buying an additional 18,947 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of MutualFirst Financial by 13.4% during the 3rd quarter. Wells Fargo & Company MN now owns 17,838 shares of the bank’s stock worth $658,000 after buying an additional 2,110 shares in the last quarter. 46.64% of the stock is currently owned by institutional investors.

MutualFirst Financial Company Profile

MutualFirst Financial, Inc operates as the bank holding company for MutualBank that provides various financial services in the United States. It accepts savings deposit, NOW, and demand accounts, as well as certificates of deposit. The company offers one-to four-family residential property, commercial real estate, construction and development, and commercial business loans; consumer loans, such as auto loans, boat and recreational vehicle loans, loans secured by savings deposits, and credit card and unsecured consumer loans; and adjustable rate loans.

Further Reading: Treasury Bonds

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