James Investment Research Inc. decreased its stake in shares of MutualFirst Financial Inc. (NASDAQ:MFSF) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,525 shares of the bank’s stock after selling 10,990 shares during the period. James Investment Research Inc. owned about 0.33% of MutualFirst Financial worth $876,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MFSF. American International Group Inc. increased its position in shares of MutualFirst Financial by 7.5% in the first quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock valued at $106,000 after buying an additional 235 shares in the last quarter. Wells Fargo & Company MN increased 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 valued at $110,000 after buying an additional 500 shares during the period. Geode Capital Management LLC increased its position in shares of MutualFirst Financial by 2.2% in the first quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock valued at $1,526,000 after buying an additional 1,062 shares during the period. Bank of New York Mellon Corp increased its position in shares of MutualFirst Financial by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 25,757 shares of the bank’s stock valued at $813,000 after buying an additional 1,091 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of MutualFirst Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 191,842 shares of the bank’s stock valued at $6,053,000 after buying an additional 2,715 shares during the period. Institutional investors and hedge funds own 45.79% of the company’s stock.
Shares of MutualFirst Financial Inc. (MFSF) traded down 1.16% during mid-day trading on Friday, reaching $34.15. 15,456 shares of the company’s stock were exchanged. The stock has a market cap of $252.06 million, a PE ratio of 18.46 and a beta of 0.35. The company has a 50 day moving average price of $34.50 and a 200-day moving average price of $33.13. MutualFirst Financial Inc. has a one year low of $26.30 and a one year high of $36.90.
MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. The firm had revenue of $16.76 million for the quarter, compared to analysts’ expectations of $16.40 million. On average, analysts predict that MutualFirst Financial Inc. will post $1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 7th. MutualFirst Financial’s payout ratio is 34.59%.
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Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a report on Saturday, July 29th. TheStreet downgraded shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a report on Tuesday, July 25th. DA Davidson upgraded MutualFirst Financial from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $29.00 to $34.00 in a report on Wednesday, July 26th. BidaskClub downgraded MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 price objective on shares of MutualFirst Financial in a report on Friday, July 14th. One investment 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 stock currently has a consensus rating of “Hold” and an average target price of $35.33.
In related news, COO Patrick C. Botts sold 942 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $34.75, for a total transaction of $32,734.50. Following the transaction, the chief operating officer now owns 23,261 shares in the company, valued at $808,319.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Wayne Heeter sold 2,433 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.08, for a total transaction of $85,349.64. Following the sale, the insider now directly owns 45,863 shares in the company, valued at approximately $1,608,874.04. The disclosure for this sale can be found here. Insiders sold 37,161 shares of company stock worth $1,299,609 in the last 90 days. Corporate insiders own 11.30% of the company’s stock.
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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