MutualFirst Financial’s (MFSF) “Hold” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of MutualFirst Financial (NASDAQ:MFSF) in a research note released on Friday. Keefe, Bruyette & Woods currently has a $39.00 target price on the bank’s stock.

Several other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of MutualFirst Financial from a buy rating to a hold rating in a research report on Tuesday, December 12th. ValuEngine cut shares of MutualFirst Financial from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Zacks Investment Research cut shares of MutualFirst Financial from a strong-buy rating to a hold rating in a research report on Friday, October 13th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of $37.67.

MutualFirst Financial (NASDAQ:MFSF) opened at $38.50 on Friday. MutualFirst Financial has a 1-year low of $29.20 and a 1-year high of $40.50. The stock has a market cap of $284.49, a PE ratio of 20.48, a P/E/G ratio of 3.96 and a beta of 0.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44.

MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. MutualFirst Financial had a net margin of 18.68% and a return on equity of 9.73%. The firm had revenue of $16.70 million during the quarter, compared to the consensus estimate of $17.00 million. equities analysts predict that MutualFirst Financial will post 1.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, December 7th. This is a boost from MutualFirst Financial’s previous quarterly dividend of $0.16. MutualFirst Financial’s dividend payout ratio (DPR) is presently 38.30%.

In other news, insider Charles J. Viater sold 710 shares of MutualFirst Financial stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.95, for a total transaction of $28,364.50. Following the completion of the sale, the insider now owns 188,452 shares in the company, valued at approximately $7,528,657.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jerry Dean Mcvicker sold 3,599 shares of MutualFirst Financial 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 sale, the director now owns 36,550 shares of the company’s stock, valued at approximately $1,463,096.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,315 shares of company stock valued at $603,775. 11.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in MutualFirst Financial in the third quarter valued at approximately $101,000. First Quadrant L P CA bought a new position in MutualFirst Financial in the third quarter valued at approximately $112,000. Nationwide Fund Advisors lifted its stake in MutualFirst Financial by 9.7% in the second quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock valued at $120,000 after buying an additional 298 shares in the last quarter. Bank of America Corp DE lifted its stake in MutualFirst Financial by 424.4% in the first quarter. Bank of America Corp DE now owns 3,933 shares of the bank’s stock valued at $124,000 after buying an additional 3,183 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in MutualFirst Financial in the second quarter valued at approximately $141,000. Hedge funds and other institutional investors own 47.49% of the company’s stock.

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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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