Today, MutualFirst Financial Inc. (MFSF) Given Sell Rating at DA Davidson

Today, MutualFirst Financial Inc. (MFSF) Given Sell Rating at DA Davidson
MutualFirst Financial Inc. (NASDAQ:MFSF)‘s stock had its “sell” rating reiterated by analysts at DA Davidson in a report issued on Friday. They currently have a $24.00 target price on the stock. DA Davidson’s price objective indicates a potential downside of 18.51% from the company’s previous close.

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

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

Shares of MutualFirst Financial (NASDAQ:MFSF) remained flat at $29.45 on Friday. The company’s stock had a trading volume of 3,066 shares. 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 52 week low of $21.20 and a 52 week high of $30.00. The company has a market capitalization of $215.69 million, a price-to-earnings ratio of 16.73 and a beta of 0.47.

MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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%. Analysts forecast that MutualFirst Financial will post $1.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, December 7th. This is an increase from MutualFirst Financial’s previous quarterly dividend of $0.14. 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 1,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $27.80, for a total value of $27,800.00. Following the completion of the transaction, the insider now directly owns 176,662 shares of the company’s stock, valued at approximately $4,911,203.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles J. Viater sold 2,777 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $27.80, for a total transaction of $77,200.60. Following the completion of the transaction, the insider now directly owns 174,162 shares of the company’s stock, valued at $4,841,703.60. The disclosure for this sale can be found here. 22.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its position in shares of MutualFirst Financial by 0.9% in the third quarter. California State Teachers Retirement System now owns 11,511 shares of the company’s stock valued at $319,000 after buying an additional 100 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of MutualFirst Financial by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 20,061 shares of the company’s stock valued at $557,000 after buying an additional 335 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of 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 last quarter. Dimensional Fund Advisors LP increased its position in shares of MutualFirst Financial by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 378,257 shares of the company’s stock valued at $10,345,000 after buying an additional 1,247 shares during the last quarter. Finally, James Investment Research Inc. increased its position in shares of MutualFirst Financial by 19.3% in the second quarter. James Investment Research Inc. now owns 23,125 shares of the company’s stock valued at $632,000 after buying an additional 3,740 shares during the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

MutualFirst Financial Company Profile

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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