MutualFirst Financial (MFSF) Boosted by Zacks Investment Research to “Hold”

MutualFirst Financial (MFSF) Boosted  by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of MutualFirst Financial (NASDAQ:MFSF) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $34.00 price target on the bank’s stock.

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

A number of other analysts also recently commented on the company. BidaskClub raised MutualFirst Financial from a strong sell rating to a sell rating in a research note on Tuesday, April 30th. ValuEngine raised MutualFirst Financial from a strong sell rating to a sell rating in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company has a consensus rating of Hold and an average target price of $34.00.

Shares of MFSF traded up $0.56 during midday trading on Wednesday, reaching $30.50. The stock had a trading volume of 13,421 shares, compared to its average volume of 6,541. MutualFirst Financial has a 52 week low of $24.28 and a 52 week high of $40.00. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $263.05 million, a PE ratio of 12.55, a P/E/G ratio of 2.35 and a beta of 0.68.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. MutualFirst Financial had a return on equity of 10.93% and a net margin of 19.24%. The company had revenue of $21.13 million for the quarter, compared to the consensus estimate of $20.75 million. On average, equities research analysts forecast that MutualFirst Financial will post 2.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, June 13th. MutualFirst Financial’s dividend payout ratio (DPR) is presently 32.92%.

In other news, Director Mark L. Barkley sold 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $31.21, for a total transaction of $156,050.00. Following the sale, the director now directly owns 202,750 shares of the company’s stock, valued at $6,327,827.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of MutualFirst Financial by 44.5% during the fourth quarter. Rhumbline Advisers now owns 7,998 shares of the bank’s stock worth $213,000 after purchasing an additional 2,463 shares during the period. Renaissance Technologies LLC raised its position in shares of MutualFirst Financial by 2.3% during the third quarter. Renaissance Technologies LLC now owns 237,800 shares of the bank’s stock worth $8,763,000 after purchasing an additional 5,453 shares during the period. Vanguard Group Inc. raised its position in shares of MutualFirst Financial by 2.2% during the third quarter. Vanguard Group Inc. now owns 273,684 shares of the bank’s stock worth $10,085,000 after purchasing an additional 5,771 shares during the period. BlackRock Inc. raised its position in shares of MutualFirst Financial by 1.3% during the third quarter. BlackRock Inc. now owns 302,775 shares of the bank’s stock worth $11,157,000 after purchasing an additional 3,935 shares during the period. Finally, Vanguard Group Inc raised its position in shares of MutualFirst Financial by 2.2% during the third quarter. Vanguard Group Inc now owns 273,684 shares of the bank’s stock worth $10,085,000 after purchasing an additional 5,771 shares during the period. 47.21% 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: Moving Average Convergence Divergence (MACD)

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