MutualFirst Financial’s (MFSF) Sell Rating Reaffirmed at DA Davidson
DA Davidson reiterated their sell rating on shares of MutualFirst Financial Inc. (NASDAQ:MFSF) in a research note issued to investors on Friday. DA Davidson currently has a $24.00 price target on the stock.
“We expect the bulk of these benefits to come into play during the second half of 2017.”,” DA Davidson’s analyst commented.
Separately, Zacks Investment Research upgraded MutualFirst Financial from a hold rating to a strong-buy rating and set a $33.00 target price on the stock in a research report on Saturday, July 30th.
MutualFirst Financial (NASDAQ:MFSF) opened at 29.75 on Friday. The stock has a 50 day moving average price of $27.88 and a 200-day moving average price of $27.49. MutualFirst Financial has a 1-year low of $21.20 and a 1-year high of $30.00. The stock has a market cap of $217.89 million, a PE ratio of 16.90 and a beta of 0.47.
MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Tuesday, October 25th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. MutualFirst Financial had a return on equity of 9.49% and a net margin of 18.41%. On average, equities analysts expect that MutualFirst Financial will post $1.75 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.16 per share. This is a boost from MutualFirst Financial’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, December 7th. MutualFirst Financial’s payout ratio is presently 31.64%.
In other MutualFirst Financial news, insider Charles J. Viater sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.80, for a total transaction of $27,800.00. Following the sale, the insider now directly owns 176,662 shares of the company’s stock, valued at $4,911,203.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles J. Viater sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $28.05, for a total value of $56,100.00. Following the sale, the insider now directly owns 171,162 shares in the company, valued at $4,801,094.10. The disclosure for this sale can be found here. Company insiders own 22.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maltese Capital Management LLC boosted its position in MutualFirst Financial by 85.5% in the second quarter. Maltese Capital Management LLC now owns 385,200 shares of the company’s stock worth $10,535,000 after buying an additional 177,600 shares in the last quarter. BlackRock Fund Advisors boosted its position in MutualFirst Financial by 12,274.3% in the second quarter. BlackRock Fund Advisors now owns 128,074 shares of the company’s stock worth $3,503,000 after buying an additional 127,039 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in MutualFirst Financial during the third quarter worth approximately $2,947,000. State Street Corp acquired a new position in MutualFirst Financial during the second quarter worth approximately $1,492,000. Finally, First Merchants Corp acquired a new position in MutualFirst Financial during the second quarter worth approximately $1,095,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.
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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