The Manufacturers Life Insurance Company Reduces Position in MutualFirst Financial Inc. (MFSF)

The Manufacturers Life Insurance Company lessened its position in shares of MutualFirst Financial Inc. (NASDAQ:MFSF) by 4.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,022 shares of the bank’s stock after selling 5,918 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.54% of MutualFirst Financial worth $4,071,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in MutualFirst Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,647 shares of the bank’s stock worth $14,232,000 after buying an additional 10,625 shares during the last quarter. Vanguard Group Inc. grew its stake in MutualFirst Financial by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 193,315 shares of the bank’s stock worth $6,901,000 after buying an additional 1,473 shares during the last quarter. Renaissance Technologies LLC grew its stake in MutualFirst Financial by 6.6% during the 1st quarter. Renaissance Technologies LLC now owns 166,481 shares of the bank’s stock worth $5,252,000 after buying an additional 10,301 shares during the last quarter. State Street Corp grew its stake in MutualFirst Financial by 96.5% during the 2nd quarter. State Street Corp now owns 133,260 shares of the bank’s stock worth $4,761,000 after buying an additional 65,441 shares during the last quarter. Finally, Northern Trust Corp grew its stake in MutualFirst Financial by 16.1% during the 2nd quarter. Northern Trust Corp now owns 71,373 shares of the bank’s stock worth $2,549,000 after buying an additional 9,877 shares during the last quarter. Hedge funds and other institutional investors own 45.72% of the company’s stock.

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MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. MutualFirst Financial had a return on equity of 9.86% and a net margin of 18.68%. The firm had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $17.00 million.

MFSF has been the topic of a number of research reports. Zacks Investment Research downgraded MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine upgraded MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of MutualFirst Financial in a research note on Sunday, October 8th. TheStreet downgraded MutualFirst Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 25th. Finally, DA Davidson upgraded MutualFirst Financial from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $29.00 to $34.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $36.67.

In other news, Director Jerry Dean Mcvicker sold 3,599 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $40.03, for a total transaction of $144,067.97. Following the completion of the transaction, the director now directly owns 36,550 shares of the company’s stock, valued at $1,463,096.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles J. Viater sold 710 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.95, for a total value of $28,364.50. Following the transaction, the insider now directly owns 188,452 shares of the company’s stock, valued at $7,528,657.40. The disclosure for this sale can be found here. 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.

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

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