Vanguard Group Inc. grew its holdings in MutualFirst Financial Inc. (NASDAQ:MFSF) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,842 shares of the bank’s stock after acquiring an additional 2,715 shares during the period. Vanguard Group Inc. owned 2.61% of MutualFirst Financial worth $6,053,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MFSF. Wells Fargo & Company MN boosted its stake in shares of MutualFirst Financial by 16.7% during the 1st quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after purchasing an additional 500 shares during the period. Bank of New York Mellon Corp lifted its holdings in MutualFirst Financial by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 25,757 shares of the bank’s stock valued at $813,000 after buying an additional 1,091 shares in the last quarter. American International Group Inc. raised its holdings in shares of MutualFirst Financial by 7.5% in the 1st quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock valued at $106,000 after purchasing an additional 235 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of MutualFirst Financial in the 1st quarter valued at about $171,000. Hedge funds and other institutional investors own 46.12% of the company’s stock.
Shares of MutualFirst Financial Inc. (NASDAQ:MFSF) traded down 0.56% during midday trading on Friday, hitting $35.35. 11,876 shares of the stock were exchanged. The firm has a market cap of $260.92 million, a PE ratio of 19.11 and a beta of 0.35. The firm has a 50-day moving average price of $34.87 and a 200 day moving average price of $33.58. MutualFirst Financial Inc. has a 12-month low of $26.30 and a 12-month high of $36.90.
MutualFirst Financial (NASDAQ:MFSF) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.10. The business had revenue of $16.76 million for the quarter, compared to the consensus estimate of $16.40 million. MutualFirst Financial had a return on equity of 9.66% and a net margin of 18.53%. Analysts predict that MutualFirst Financial Inc. will post $1.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, September 7th. MutualFirst Financial’s dividend payout ratio (DPR) is currently 34.59%.
In related news, COO Patrick C. Botts sold 5,859 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.17, for a total transaction of $206,061.03. Following the completion of the transaction, the chief operating officer now owns 27,017 shares in the company, valued at approximately $950,187.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Wayne Heeter sold 7,285 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $34.57, for a total value of $251,842.45. Following the transaction, the insider now owns 50,715 shares of the company’s stock, valued at approximately $1,753,217.55. The disclosure for this sale can be found here. Insiders sold a total of 37,161 shares of company stock worth $1,299,609 in the last ninety days. Insiders own 11.30% of the company’s stock.
Several research analysts recently commented on MFSF shares. ValuEngine upgraded shares of MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. TheStreet downgraded shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $32.00 price objective on shares of MutualFirst Financial in a report on Friday, July 14th. Zacks Investment Research downgraded shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, DA Davidson raised shares of MutualFirst Financial from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $34.00 in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.33.
MutualFirst Financial 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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