Short Interest in MutualFirst Financial, Inc. (NASDAQ:MFSF) Expands By 49.4%

MutualFirst Financial, Inc. (NASDAQ:MFSF) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 46,600 shares, an increase of 49.4% from the May 30th total of 31,200 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 8,900 shares, the days-to-cover ratio is presently 5.2 days.

In other MutualFirst Financial news, Director Michael J. Marien sold 3,800 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $30.90, for a total transaction of $117,420.00. Following the completion of the sale, the director now directly owns 51,750 shares in the company, valued at approximately $1,599,075. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark L. Barkley sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $31.11, for a total value of $155,550.00. Following the sale, the director now owns 197,745 shares of the company’s stock, valued at $6,151,846.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,125 shares of company stock valued at $283,126. Corporate insiders own 27.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of MFSF. SG Americas Securities LLC acquired a new stake in MutualFirst Financial in the first quarter valued at $142,000. BNP Paribas Arbitrage SA lifted its stake in MutualFirst Financial by 510.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,221 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,021 shares during the last quarter. Kessler Investment Group LLC lifted its stake in MutualFirst Financial by 23.8% in the first quarter. Kessler Investment Group LLC now owns 4,799 shares of the bank’s stock valued at $144,000 after acquiring an additional 924 shares during the last quarter. Bank of America Corp DE lifted its stake in MutualFirst Financial by 80.6% in the fourth quarter. Bank of America Corp DE now owns 3,945 shares of the bank’s stock valued at $106,000 after acquiring an additional 1,761 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in MutualFirst Financial by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 61,886 shares of the bank’s stock valued at $1,644,000 after acquiring an additional 2,727 shares during the last quarter. 47.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MFSF stock traded up $0.06 during trading hours on Thursday, reaching $32.07. 5,960 shares of the company traded hands, compared to its average volume of 9,287. MutualFirst Financial has a 12-month low of $24.28 and a 12-month high of $38.90. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $276.35 million, a P/E ratio of 13.20, a P/E/G ratio of 2.55 and a beta of 0.72. The stock’s 50-day moving average price is $31.32.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. MutualFirst Financial had a return on equity of 10.72% and a net margin of 19.24%. The firm had revenue of $21.13 million for the quarter, compared to analysts’ expectations of $20.75 million. Sell-side analysts expect that MutualFirst Financial will post 2.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.49%. MutualFirst Financial’s payout ratio is currently 32.92%.

A number of equities research analysts have issued reports on MFSF shares. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.00.

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: What is Cost of Goods Sold (COGS)?

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