Trading Report: Today, DA Davidson Reiterates “Sell” Rating for MutualFirst Financial Inc. (MFSF)

Today, DA Davidson Reiterates “Sell” Rating for MutualFirst Financial Inc. (MFSF)

MutualFirst Financial Inc. (NASDAQ:MFSF)‘s stock had its “sell” rating restated by research analysts at DA Davidson in a research note issued on Friday. They presently have a $24.00 price objective on the stock. DA Davidson’s price target would suggest a potential downside of 18.51% from the stock’s current price.

The analysts wrote, “We expect the bulk of these benefits to come into play during the second half of 2017.””

Separately, Zacks Investment Research upgraded shares of MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Saturday, July 30th.

MutualFirst Financial (NASDAQ:MFSF) remained flat at $29.45 during midday trading on Friday. 3,066 shares of the company traded hands. The stock has a market capitalization of $215.69 million, a price-to-earnings ratio of 16.73 and a beta of 0.47. The company has a 50-day moving average price of $27.78 and a 200-day moving average price of $27.48. MutualFirst Financial has a one year low of $21.20 and a one year high of $30.00.

MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Tuesday, October 25th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. MutualFirst Financial had a net margin of 18.41% and a return on equity of 9.49%. On average, analysts forecast that MutualFirst Financial will post $1.75 earnings per share for the current year.

The company 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 $0.16 dividend. This is a positive change from MutualFirst Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, December 7th. This represents a $0.64 annualized dividend and a yield of 2.17%. MutualFirst Financial’s dividend payout ratio (DPR) is 31.64%.

In other MutualFirst Financial news, insider Charles J. Viater sold 2,777 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $27.80, for a total value of $77,200.60. Following the completion of the sale, the insider now owns 174,162 shares in the company, valued at approximately $4,841,703.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles J. Viater sold 1,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $27.80, for a total transaction of $27,800.00. Following the completion of the sale, the insider now owns 176,662 shares of the company’s stock, valued at approximately $4,911,203.60. The disclosure for this sale can be found here. 22.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Advisors LLC raised its stake in MutualFirst Financial by 18.0% in the third quarter. BlackRock Advisors LLC now owns 3,699 shares of the company’s stock valued at $103,000 after buying an additional 563 shares during the period. Beese Fulmer Investment Management Inc. bought a new position in MutualFirst Financial during the second quarter worth $229,000. Teachers Advisors Inc. bought a new position in MutualFirst Financial during the second quarter worth $234,000. Schwab Charles Investment Management Inc. bought a new position in MutualFirst Financial during the second quarter worth $277,000. Finally, TFS Capital LLC bought a new position in MutualFirst Financial during the second quarter worth $289,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

MutualFirst Financial Company Profile

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