Separately, Zacks Investment Research upgraded MutualFirst Financial from a sell rating to a hold rating in a research report on Tuesday, July 30th.
Shares of NASDAQ:MFSF traded up $0.19 during trading on Thursday, hitting $32.04. 6,092 shares of the company were exchanged, compared to its average volume of 8,846. The company has a market cap of $264.31 million, a PE ratio of 13.19, a P/E/G ratio of 2.43 and a beta of 0.74. The stock has a 50 day moving average of $31.45 and a 200 day moving average of $30.83. MutualFirst Financial has a 52-week low of $24.28 and a 52-week high of $38.70. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.99 and a quick ratio of 0.97.
MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. MutualFirst Financial had a return on equity of 10.65% and a net margin of 20.40%. The firm had revenue of $21.75 million for the quarter, compared to the consensus estimate of $21.55 million. Sell-side analysts forecast that MutualFirst Financial will post 2.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.20 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. MutualFirst Financial’s dividend payout ratio (DPR) is presently 32.92%.
In related news, Director Mark L. Barkley sold 3,750 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.11, for a total value of $124,162.50. Following the sale, the director now owns 192,579 shares in the company, valued at $6,376,290.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Sharon L. Ferguson sold 5,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $176,000.00. Following the completion of the sale, the senior vice president now owns 4,400 shares in the company, valued at approximately $140,800. The disclosure for this sale can be found here. Insiders sold 14,575 shares of company stock worth $470,719 in the last quarter. 27.40% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of MFSF. BNP Paribas Arbitrage SA raised its position in shares of MutualFirst Financial by 510.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,221 shares of the bank’s stock worth $37,000 after buying an additional 1,021 shares in the last quarter. LSV Asset Management purchased a new stake in MutualFirst Financial during the second quarter valued at about $51,000. Acadian Asset Management LLC raised its position in MutualFirst Financial by 440.8% during the second quarter. Acadian Asset Management LLC now owns 2,985 shares of the bank’s stock valued at $102,000 after purchasing an additional 2,433 shares in the last quarter. Bank of America Corp DE raised its position in MutualFirst Financial by 80.6% during the fourth quarter. Bank of America Corp DE now owns 3,945 shares of the bank’s stock valued at $106,000 after purchasing an additional 1,761 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in MutualFirst Financial during the first quarter valued at about $142,000. Institutional investors own 48.14% 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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