State Street Corp boosted its holdings in MutualFirst Financial Inc. (NASDAQ:MFSF) by 96.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,260 shares of the bank’s stock after acquiring an additional 65,441 shares during the quarter. State Street Corp owned 1.81% of MutualFirst Financial worth $4,761,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. American International Group Inc. increased its stake in MutualFirst Financial by 7.5% in the 1st quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock worth $106,000 after acquiring an additional 235 shares during the last quarter. Nationwide Fund Advisors increased its stake in MutualFirst Financial by 9.7% in the 2nd quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock worth $120,000 after acquiring an additional 298 shares during the last quarter. Bank of America Corp DE increased its stake in MutualFirst Financial by 424.4% in the 1st quarter. Bank of America Corp DE now owns 3,933 shares of the bank’s stock worth $124,000 after acquiring an additional 3,183 shares during the last quarter. Advisor Group Inc. bought a new position in MutualFirst Financial in the 2nd quarter worth about $141,000. Finally, SG Americas Securities LLC increased its stake in MutualFirst Financial by 10.7% in the 2nd quarter. SG Americas Securities LLC now owns 5,992 shares of the bank’s stock worth $214,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 47.49% of the company’s stock.
A number of equities analysts have weighed in on MFSF shares. ValuEngine upgraded MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of MutualFirst Financial in a report on Sunday, October 8th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.67.
MutualFirst Financial Inc. (NASDAQ:MFSF) opened at $37.70 on Wednesday. MutualFirst Financial Inc. has a fifty-two week low of $28.50 and a fifty-two week high of $40.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $277.47, a PE ratio of 19.97, a PEG ratio of 3.86 and a beta of 0.33.
MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. MutualFirst Financial had a return on equity of 9.73% and a net margin of 18.68%. The firm had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $17.00 million. research analysts anticipate that MutualFirst Financial Inc. will post 1.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a $0.18 dividend. This is a boost from MutualFirst Financial’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, December 7th. MutualFirst Financial’s dividend payout ratio is presently 34.04%.
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About MutualFirst Financial
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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