Wall Street brokerages expect MutualFirst Financial Inc. (NASDAQ:MFSF) to post sales of $17.00 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MutualFirst Financial’s earnings, with the lowest sales estimate coming in at $16.70 million and the highest estimate coming in at $17.30 million. MutualFirst Financial reported sales of $16.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that MutualFirst Financial will report full year sales of $17.00 million for the current year, with estimates ranging from $65.80 million to $68.30 million. For the next financial year, analysts anticipate that the company will report sales of $69.25 million per share, with estimates ranging from $68.00 million to $70.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow MutualFirst Financial.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.10. MutualFirst Financial had a return on equity of 9.74% and a net margin of 18.53%. The company had revenue of $16.76 million during the quarter, compared to analyst estimates of $16.40 million.
Several equities analysts have weighed in on MFSF shares. Zacks Investment Research upgraded MutualFirst Financial from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, April 28th. ValuEngine upgraded MutualFirst Financial from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. BidaskClub cut MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price target on shares of MutualFirst Financial in a report on Friday, July 14th. Finally, DA Davidson upgraded MutualFirst Financial from an “underperform” rating to a “neutral” rating and raised their price target for the company from $29.00 to $34.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.33.
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In other MutualFirst Financial news, COO Patrick C. Botts sold 5,859 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.17, for a total transaction of $206,061.03. Following the completion of the transaction, the chief operating officer now owns 27,017 shares in the company, valued at approximately $950,187.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Patrick C. Botts sold 965 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.37, for a total value of $34,132.05. Following the transaction, the chief operating officer now owns 23,284 shares of the company’s stock, valued at approximately $823,555.08. The disclosure for this sale can be found here. Insiders have sold a total of 29,876 shares of company stock valued at $1,047,767 in the last 90 days. 11.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in MFSF. Bowling Portfolio Management LLC bought a new position in shares of MutualFirst Financial during the first quarter worth approximately $630,000. Renaissance Technologies LLC boosted its position in shares of MutualFirst Financial by 13.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,180 shares of the bank’s stock worth $5,170,000 after buying an additional 17,980 shares during the period. State Street Corp boosted its position in shares of MutualFirst Financial by 12.7% in the fourth quarter. State Street Corp now owns 67,115 shares of the bank’s stock worth $2,222,000 after buying an additional 7,559 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of MutualFirst Financial by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 388,022 shares of the bank’s stock worth $12,242,000 after buying an additional 6,594 shares during the period. Finally, Rhumbline Advisers bought a new position in shares of MutualFirst Financial during the second quarter worth approximately $224,000. Institutional investors and hedge funds own 45.95% of the company’s stock.
Shares of MutualFirst Financial (NASDAQ:MFSF) traded down 0.29% on Friday, hitting $34.70. The stock had a trading volume of 14,157 shares. MutualFirst Financial has a 52 week low of $26.30 and a 52 week high of $36.90. The firm has a 50-day moving average price of $34.70 and a 200-day moving average price of $32.78. The stock has a market capitalization of $254.84 million, a P/E ratio of 18.76 and a beta of 0.35.
MutualFirst Financial Company Profile
MutualFirst Financial, Inc (MutualFirst) is the bank holding company of MutualBank (MutualBank or the Bank). The Bank offers financial services through approximately 30 full service retail financial center offices in Allen, Delaware, Elkhart, Grant, Kosciusko, Randolph, Saint Joseph and Wabash counties in Indiana.
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