Bank of New York Mellon Corp Acquires 1,091 Shares of MutualFirst Financial Inc. (NASDAQ:MFSF)

Bank of New York Mellon Corp increased its position in MutualFirst Financial Inc. (NASDAQ:MFSF) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,757 shares of the bank’s stock after buying an additional 1,091 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of MutualFirst Financial worth $813,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MFSF. Bowling Portfolio Management LLC bought a new position in shares of MutualFirst Financial during the first quarter worth about $630,000. Wells Fargo & Company MN raised its position in shares of MutualFirst Financial by 16.7% in the first quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after buying an additional 500 shares during the last quarter. Renaissance Technologies LLC raised 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of MutualFirst Financial by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 381,428 shares of the bank’s stock worth $12,625,000 after buying an additional 2,824 shares during the last quarter. Finally, State Street Corp raised 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 last quarter. Institutional investors own 45.79% of the company’s stock.

Shares of MutualFirst Financial Inc. (NASDAQ MFSF) opened at 34.15 on Friday. MutualFirst Financial Inc. has a 52 week low of $26.30 and a 52 week high of $36.90. The company has a market cap of $252.06 million, a P/E ratio of 18.46 and a beta of 0.35. The firm has a 50-day moving average of $34.46 and a 200 day moving average of $33.16.

MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The firm had revenue of $16.76 million for the quarter, compared to the consensus estimate of $16.40 million. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. Equities analysts anticipate that MutualFirst Financial Inc. will post $1.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.87%. MutualFirst Financial’s dividend payout ratio is currently 34.59%.

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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine raised shares of MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. TheStreet downgraded shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 25th. BidaskClub downgraded shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price target on shares of MutualFirst Financial in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.33.

In other news, COO Patrick C. Botts sold 942 shares of MutualFirst Financial stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $34.75, for a total value of $32,734.50. Following the completion of the sale, the chief operating officer now owns 23,261 shares in the company, valued at approximately $808,319.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Wayne Heeter sold 12,065 shares of MutualFirst Financial stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $35.16, for a total transaction of $424,205.40. Following the completion of the sale, the insider now owns 49,951 shares of the company’s stock, valued at approximately $1,756,277.16. The disclosure for this sale can be found here. Insiders sold a total of 37,161 shares of company stock valued at $1,299,609 in the last quarter. 11.30% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for MutualFirst Financial (NASDAQ:MFSF)

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