MutualFirst Financial, Inc. (NASDAQ:MFSF) announced a quarterly dividend on Friday, August 17th, Wall Street Journal reports. Shareholders of record on Friday, September 7th will be given a dividend of 0.18 per share by the bank on Friday, September 21st. This represents a $0.72 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 6th.

MutualFirst Financial has increased its dividend by an average of 27.3% annually over the last three years and has raised its dividend every year for the last 4 years. MutualFirst Financial has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MutualFirst Financial to earn $2.74 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.3%.

NASDAQ:MFSF opened at $38.30 on Friday. MutualFirst Financial has a 12 month low of $33.70 and a 12 month high of $40.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.46. The company has a market cap of $326.32 million, a price-to-earnings ratio of 20.05, a PEG ratio of 3.13 and a beta of 0.14.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. MutualFirst Financial had a return on equity of 9.92% and a net margin of 15.56%. The company had revenue of $21.41 million during the quarter, compared to analyst estimates of $20.10 million. equities research analysts forecast that MutualFirst Financial will post 2.43 earnings per share for the current year.

In other news, insider Charles J. Viater sold 4,353 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $38.18, for a total value of $166,197.54. Following the completion of the sale, the insider now directly owns 174,377 shares in the company, valued at $6,657,713.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles J. Viater sold 2,225 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $37.65, for a total value of $83,771.25. Following the completion of the sale, the insider now owns 176,970 shares of the company’s stock, valued at $6,662,920.50. The disclosure for this sale can be found here. 28.00% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on MFSF shares. Zacks Investment Research upgraded MutualFirst Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. TheStreet lowered MutualFirst Financial from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Finally, DA Davidson restated a “neutral” rating on shares of MutualFirst Financial in a research report on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.50.

About MutualFirst Financial

MutualFirst Financial, Inc operates as the bank holding company for MutualBank that provides various financial services in the United States. It accepts savings deposit, NOW, and demand accounts, as well as certificates of deposit. The company offers one-to four-family residential property, commercial real estate, construction and development, and commercial business loans; consumer loans, such as auto loans, boat and recreational vehicle loans, loans secured by savings deposits, and credit card and unsecured consumer loans; and adjustable rate loans.

Further Reading: What kind of dividend yield to CEF’s pay?

Dividend History for MutualFirst Financial (NASDAQ:MFSF)

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