MutualFirst Financial (MFSF) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of MutualFirst Financial (NASDAQ:MFSF) from a hold rating to a sell rating in a report published on Thursday.

According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “

MFSF has been the topic of several other research reports. ValuEngine downgraded MutualFirst Financial from a hold rating to a sell rating in a research note on Tuesday, November 6th. BidaskClub downgraded MutualFirst Financial from a hold rating to a sell rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of Sell and a consensus target price of $39.50.

MutualFirst Financial stock opened at $31.25 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $268.36 million, a P/E ratio of 13.77, a P/E/G ratio of 2.54 and a beta of 0.13. MutualFirst Financial has a twelve month low of $27.10 and a twelve month high of $40.00.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $21.46 million during the quarter, compared to analysts’ expectations of $21.65 million. MutualFirst Financial had a return on equity of 10.34% and a net margin of 16.27%. On average, analysts expect that MutualFirst Financial will post 2.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. This is an increase from MutualFirst Financial’s previous quarterly dividend of $0.18. MutualFirst Financial’s dividend payout ratio is presently 41.88%.

In related news, Director Mark L. Barkley sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $35.49, for a total value of $177,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charles J. Viater sold 2,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $35.83, for a total value of $71,660.00. Following the sale, the insider now owns 170,245 shares in the company, valued at $6,099,878.35. The disclosure for this sale can be found here. Insiders sold a total of 9,636 shares of company stock worth $343,821 in the last 90 days. 28.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System boosted its stake in MutualFirst Financial by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 29,171 shares of the bank’s stock valued at $1,101,000 after purchasing an additional 1,597 shares during the last quarter. Ancora Advisors LLC boosted its stake in MutualFirst Financial by 0.3% during the 3rd quarter. Ancora Advisors LLC now owns 539,549 shares of the bank’s stock valued at $19,882,000 after purchasing an additional 1,650 shares during the last quarter. Wells Fargo & Company MN boosted its stake in MutualFirst Financial by 13.4% during the 3rd quarter. Wells Fargo & Company MN now owns 17,838 shares of the bank’s stock valued at $658,000 after purchasing an additional 2,110 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in MutualFirst Financial by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 449,164 shares of the bank’s stock valued at $16,956,000 after purchasing an additional 2,555 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in MutualFirst Financial during the 3rd quarter valued at $136,000. Institutional investors and hedge funds own 47.21% of the company’s stock.

About MutualFirst Financial

MutualFirst Financial, Inc operates as the bank holding company for MutualBank that provides various financial services in the United States. It accepts savings deposit, NOW, and demand accounts, as well as certificates of deposit. The company offers one-to four-family residential property, commercial real estate, construction and development, and commercial business loans; consumer loans, such as auto loans, boat and recreational vehicle loans, loans secured by savings deposits, and credit card and unsecured consumer loans; and adjustable rate loans.

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