Zacks Investment Research upgraded shares of MutualFirst Financial (NASDAQ:MFSF) from a strong sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “

A number of other research firms have also recently issued reports on MFSF. DA Davidson restated a neutral rating on shares of MutualFirst Financial in a report on Monday, July 30th. TheStreet cut MutualFirst Financial from a b rating to a c+ rating in a report on Friday, July 27th. BidaskClub cut MutualFirst Financial from a hold rating to a sell rating in a report on Wednesday, September 26th. Finally, ValuEngine cut MutualFirst Financial from a hold rating to a sell rating in a report on Saturday, September 22nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. MutualFirst Financial presently has a consensus rating of Hold and an average target price of $40.50.

MFSF opened at $35.30 on Tuesday. MutualFirst Financial has a 52-week low of $34.30 and a 52-week high of $40.50. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $316.45 million, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.04 and a beta of 0.13.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $20.10 million. As a group, research analysts forecast that MutualFirst Financial will post 2.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, September 6th. MutualFirst Financial’s payout ratio is currently 37.70%.

Several hedge funds have recently modified their holdings of the business. California Public Employees Retirement System lifted its holdings in shares of MutualFirst Financial by 5.8% in the 2nd quarter. California Public Employees Retirement System now owns 29,171 shares of the bank’s stock worth $1,101,000 after buying an additional 1,597 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of MutualFirst Financial by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 232,347 shares of the bank’s stock worth $8,771,000 after buying an additional 18,947 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of MutualFirst Financial in the 2nd quarter worth $882,000. Dimensional Fund Advisors LP lifted its holdings in shares of MutualFirst Financial by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,164 shares of the bank’s stock worth $16,956,000 after buying an additional 2,555 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of MutualFirst Financial in the 2nd quarter worth $209,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

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.

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