Research Analysts Offer Predictions for MutualFirst Financial Inc.’s FY2018 Earnings (MFSF)
MutualFirst Financial Inc. (NASDAQ:MFSF) – Research analysts at DA Davidson dropped their FY2018 earnings per share estimates for shares of MutualFirst Financial in a research report issued on Tuesday. DA Davidson analyst K. Reevey now anticipates that the bank will post earnings per share of $2.07 for the year, down from their prior estimate of $2.09. DA Davidson has a “Neutral” rating and a $34.00 price objective on the stock.
MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Tuesday, July 25th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $16.76 million during the quarter, compared to analysts’ expectations of $16.40 million. MutualFirst Financial had a return on equity of 9.66% and a net margin of 18.53%. TRADEMARK VIOLATION WARNING: “Research Analysts Offer Predictions for MutualFirst Financial Inc.’s FY2018 Earnings (MFSF)” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/13/research-analysts-offer-predictions-for-mutualfirst-financial-inc-s-fy2018-earnings-mfsf.html.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research note on Saturday, July 29th. TheStreet lowered MutualFirst Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 25th. BidaskClub lowered MutualFirst Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price objective on shares of MutualFirst Financial in a research note on Friday, July 14th. Finally, ValuEngine upgraded MutualFirst Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. MutualFirst Financial presently has a consensus rating of “Hold” and a consensus price target of $36.67.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.67%. MutualFirst Financial’s dividend payout ratio (DPR) is presently 34.59%.
In other MutualFirst Financial news, insider David Wayne Heeter sold 1,179 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.36, for a total transaction of $41,689.44. Following the transaction, the insider now owns 44,609 shares of the company’s stock, valued at approximately $1,577,374.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Patrick C. Botts sold 5,859 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.17, for a total value of $206,061.03. Following the transaction, the chief operating officer now directly owns 27,017 shares in the company, valued at approximately $950,187.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,498 shares of company stock valued at $1,067,169. 11.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its holdings in MutualFirst Financial by 7.5% during the 1st quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock worth $106,000 after buying an additional 235 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in 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 buying an additional 500 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in MutualFirst Financial by 9.7% during the 2nd quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock worth $120,000 after buying an additional 298 shares during the last quarter. Bank of America Corp DE lifted its holdings in MutualFirst Financial by 424.4% during the 1st quarter. Bank of America Corp DE now owns 3,933 shares of the bank’s stock worth $124,000 after buying an additional 3,183 shares during the last quarter. Finally, Advisor Group Inc. bought a new position in MutualFirst Financial during the 2nd quarter worth approximately $141,000. 46.12% of the stock is currently owned by institutional investors.
About MutualFirst Financial
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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