ValuEngine cut shares of MutualFirst Financial (NASDAQ:MFSF) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut MutualFirst Financial from a strong-buy rating to a hold rating in a report on Friday, October 13th. Keefe, Bruyette & Woods restated a hold rating and issued a $36.00 price target on shares of MutualFirst Financial in a report on Sunday, October 8th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of Hold and an average price target of $36.67.

MutualFirst Financial (NASDAQ MFSF) traded down $0.40 on Friday, hitting $37.55. The company had a trading volume of 5,800 shares, compared to its average volume of 9,497. The firm has a market cap of $277.47, a PE ratio of 19.97, a P/E/G ratio of 3.86 and a beta of 0.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44. MutualFirst Financial has a 1-year low of $28.50 and a 1-year high of $40.50.

MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $17.00 million. MutualFirst Financial had a return on equity of 9.73% and a net margin of 18.68%. equities analysts expect that MutualFirst Financial will post 1.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from MutualFirst Financial’s previous quarterly dividend of $0.16. MutualFirst Financial’s dividend payout ratio is currently 34.04%.

In other MutualFirst Financial news, insider Charles J. Viater sold 1,846 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $39.55, for a total transaction of $73,009.30. Following the sale, the insider now owns 187,822 shares in the company, valued at approximately $7,428,360.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jerry Dean Mcvicker sold 3,599 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $40.03, for a total value of $144,067.97. Following the sale, the director now owns 36,550 shares in the company, valued at approximately $1,463,096.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,694 shares of company stock worth $501,101. Insiders own 11.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in MutualFirst Financial by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 417,640 shares of the bank’s stock valued at $16,058,000 after buying an additional 18,993 shares during the last quarter. Vanguard Group Inc. grew its holdings in MutualFirst Financial by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 193,315 shares of the bank’s stock valued at $6,901,000 after buying an additional 1,473 shares during the last quarter. State Street Corp grew its holdings in MutualFirst Financial by 96.5% during the 2nd quarter. State Street Corp now owns 133,260 shares of the bank’s stock valued at $4,761,000 after buying an additional 65,441 shares during the last quarter. Northern Trust Corp grew its holdings in MutualFirst Financial by 16.1% during the 2nd quarter. Northern Trust Corp now owns 71,373 shares of the bank’s stock valued at $2,549,000 after buying an additional 9,877 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in MutualFirst Financial by 2.2% during the 1st 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 last quarter. Hedge funds and other institutional investors own 47.49% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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