MutualFirst Financial (MFSF) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of MutualFirst Financial (NASDAQ:MFSF) from a hold rating to a sell rating in a research note released on Wednesday morning.

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

Several other research analysts have also issued reports on MFSF. ValuEngine lowered shares of MutualFirst Financial from a hold rating to a sell rating in a research report on Saturday, September 22nd. BidaskClub upgraded shares of MutualFirst Financial from a sell rating to a hold rating in a research report on Friday, October 5th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. MutualFirst Financial currently has an average rating of Hold and an average target price of $39.50.

MutualFirst Financial stock opened at $32.95 on Wednesday. The firm has a market capitalization of $283.47 million, a PE ratio of 14.54, a PEG ratio of 2.68 and a beta of 0.13. MutualFirst Financial has a fifty-two week low of $32.20 and a fifty-two week high of $40.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.44.

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 consensus estimate of $0.66 by ($0.02). The firm had revenue of $21.46 million during the quarter, compared to the consensus estimate of $21.65 million. MutualFirst Financial had a return on equity of 10.34% and a net margin of 16.27%. As a group, sell-side analysts anticipate that MutualFirst Financial will post 2.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.20 dividend. The ex-dividend date is Thursday, December 13th. This is a positive change from MutualFirst Financial’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 2.43%. MutualFirst Financial’s payout ratio is 37.70%.

In related news, Director Mark L. Barkley sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $35.49, for a total value of $177,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles J. Viater sold 2,000 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $35.83, for a total transaction of $71,660.00. Following the completion of the transaction, the insider now owns 170,245 shares of the company’s stock, valued at $6,099,878.35. The disclosure for this sale can be found here. Insiders sold 9,636 shares of company stock valued at $343,821 over the last quarter. 11.30% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MFSF. Rhumbline Advisers purchased a new stake in MutualFirst Financial during the second quarter valued at about $209,000. Dimensional Fund Advisors LP boosted its position in MutualFirst Financial by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 449,164 shares of the bank’s stock valued at $16,956,000 after buying an additional 2,555 shares during the period. PNC Financial Services Group Inc. purchased a new stake in MutualFirst Financial during the second quarter valued at about $882,000. Renaissance Technologies LLC boosted its position in MutualFirst Financial by 8.9% during the second quarter. Renaissance Technologies LLC now owns 232,347 shares of the bank’s stock valued at $8,771,000 after buying an additional 18,947 shares during the period. Finally, California Public Employees Retirement System boosted its position in MutualFirst Financial by 5.8% during the second quarter. California Public Employees Retirement System now owns 29,171 shares of the bank’s stock valued at $1,101,000 after buying an additional 1,597 shares during the period. Institutional investors own 47.21% of the company’s stock.

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.

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