James Investment Research Inc. decreased its stake in MutualFirst Financial Inc. (NASDAQ:MFSF) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,525 shares of the bank’s stock after selling 10,990 shares during the period. James Investment Research Inc. owned about 0.33% of MutualFirst Financial worth $876,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MFSF. Bank of America Corp DE raised its position 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 during the period. Renaissance Technologies LLC raised its position in MutualFirst Financial by 6.6% in the first quarter. Renaissance Technologies LLC now owns 166,481 shares of the bank’s stock valued at $5,252,000 after buying an additional 10,301 shares during the period. Dimensional Fund Advisors LP raised its position in MutualFirst Financial by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 388,022 shares of the bank’s stock valued at $12,242,000 after buying an additional 6,594 shares during the period. Geode Capital Management LLC raised its position in MutualFirst Financial by 2.2% in the first quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock valued at $1,526,000 after buying an additional 1,062 shares during the period. Finally, Vanguard Group Inc. raised its position in MutualFirst Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 191,842 shares of the bank’s stock valued at $6,053,000 after buying an additional 2,715 shares during the period. Hedge funds and other institutional investors own 45.95% of the company’s stock.
MutualFirst Financial Inc. (NASDAQ:MFSF) opened at 32.75 on Monday. The company’s 50 day moving average is $34.83 and its 200 day moving average is $32.58. MutualFirst Financial Inc. has a 1-year low of $25.97 and a 1-year high of $36.90. The company has a market cap of $240.52 million, a price-to-earnings ratio of 17.40 and a beta of 0.36.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. MutualFirst Financial had a net margin of 18.92% and a return on equity of 9.93%. The company had revenue of $15.84 million during the quarter, compared to the consensus estimate of $15.70 million. Equities research analysts forecast that MutualFirst Financial Inc. will post $1.80 EPS for the current year.
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Several research analysts recently commented on the stock. BidaskClub lowered shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $32.00 price objective on shares of MutualFirst Financial in a research note on Friday, July 14th. Zacks Investment Research lowered shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, ValuEngine upgraded shares of MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.00.
In related news, insider David Wayne Heeter sold 2,433 shares of MutualFirst Financial stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.08, for a total value of $85,349.64. Following the completion of the transaction, the insider now owns 45,863 shares in the company, valued at $1,608,874.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick C. Botts sold 1,000 shares of MutualFirst Financial stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $34.50, for a total transaction of $34,500.00. Following the completion of the transaction, the chief operating officer now owns 23,319 shares of the company’s stock, valued at approximately $804,505.50. The disclosure for this sale can be found here. Insiders sold 6,663 shares of company stock valued at $232,440 in the last quarter. 11.30% of the stock is owned by insiders.
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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