MutualFirst Financial (MFSF) Cut to “Sell” at ValuEngine

MutualFirst Financial (NASDAQ:MFSF) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded MutualFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. TheStreet lowered MutualFirst Financial from a “b” rating to a “c+” rating in a research note on Friday, July 27th. Finally, DA Davidson restated a “neutral” rating on shares of MutualFirst Financial in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.50.

Shares of MutualFirst Financial stock opened at $35.69 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.46. MutualFirst Financial has a twelve month low of $33.66 and a twelve month high of $40.00. The stock has a market capitalization of $311.47 million, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.04 and a beta of 0.14.

MutualFirst Financial (NASDAQ:MFSF) last announced 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 business had revenue of $21.46 million during the quarter, compared to analysts’ expectations of $21.65 million. Analysts forecast that MutualFirst Financial will post 2.39 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in MutualFirst Financial by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,164 shares of the bank’s stock worth $16,956,000 after buying an additional 2,555 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in MutualFirst Financial by 8.9% in 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 during the last quarter. California Public Employees Retirement System boosted its holdings in MutualFirst Financial by 5.8% in the 2nd quarter. California Public Employees Retirement System now owns 29,171 shares of the bank’s stock worth $1,101,000 after buying an additional 1,597 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in MutualFirst Financial in the 2nd quarter worth about $882,000. Finally, Wells Fargo & Company MN boosted its holdings in MutualFirst Financial by 13.4% in 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 during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About MutualFirst Financial

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.

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