MutualFirst Financial Inc. (NASDAQ:MFSF) released its quarterly earnings results on Tuesday. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10, MarketWatch Earnings reports. The company had revenue of $16.76 million during the quarter, compared to the consensus estimate of $16.40 million. MutualFirst Financial had a return on equity of 9.93% and a net margin of 18.92%.
Shares of MutualFirst Financial (NASDAQ MFSF) traded up 2.96% during midday trading on Wednesday, hitting $34.75. The stock had a trading volume of 6,331 shares. The company’s 50-day moving average price is $34.73 and its 200-day moving average price is $32.60. The firm has a market cap of $255.20 million, a price-to-earnings ratio of 18.46 and a beta of 0.36. MutualFirst Financial has a 12-month low of $25.97 and a 12-month high of $36.90.
Several equities analysts have weighed in on MFSF shares. Zacks Investment Research raised MutualFirst Financial from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, April 28th. ValuEngine raised MutualFirst Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. BidaskClub downgraded MutualFirst Financial from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. DA Davidson raised MutualFirst Financial from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $29.00 to $34.00 in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price target on shares of MutualFirst Financial in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.33.
In other news, insider David Wayne Heeter sold 2,433 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 45,863 shares of the company’s stock, valued at $1,608,874.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick C. Botts sold 1,000 shares of the company’s stock in a transaction 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 directly owns 23,319 shares in the company, valued at $804,505.50. The disclosure for this sale can be found here. Insiders sold 6,663 shares of company stock worth $232,440 over the last ninety days. 11.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its position in MutualFirst Financial by 7.5% in the first quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock worth $106,000 after buying an additional 235 shares during the period. Wells Fargo & Company MN increased its position in MutualFirst Financial by 16.7% in the first quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after buying an additional 500 shares during the period. Bank of America Corp DE increased 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 last quarter. Russell Investments Group Ltd. acquired a new position in MutualFirst Financial during the fourth quarter valued at approximately $148,000. Finally, SG Americas Securities LLC acquired a new position in MutualFirst Financial during the first quarter valued at approximately $171,000. 45.95% of the stock is currently owned by institutional investors and hedge funds.
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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