MutualFirst Financial, Inc. (NASDAQ:MFSF) – Investment analysts at FIG Partners lifted their Q1 2019 earnings per share estimates for MutualFirst Financial in a research note issued to investors on Friday. FIG Partners analyst B. Martin now anticipates that the bank will earn $0.51 per share for the quarter, up from their previous forecast of $0.47. FIG Partners also issued estimates for MutualFirst Financial’s Q2 2019 earnings at $0.67 EPS, Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.50 EPS.
Several other equities research analysts have also recently issued reports on MFSF. BidaskClub cut MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised MutualFirst Financial from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $39.00 target price on shares of MutualFirst Financial in a research note on Friday, December 22nd. Finally, ValuEngine cut MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $38.67.
MutualFirst Financial (NASDAQ:MFSF) last posted its earnings results on Friday, February 2nd. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $17.04 million for the quarter, compared to analyst estimates of $17.20 million. MutualFirst Financial had a return on equity of 9.78% and a net margin of 16.00%.
In other news, Director Jerry Dean Mcvicker sold 3,870 shares of MutualFirst Financial stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.25, for a total value of $151,897.50. Following the completion of the sale, the director now directly owns 36,550 shares of the company’s stock, valued at $1,434,587.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles J. Viater sold 1,000 shares of MutualFirst Financial stock in a transaction on Monday, December 18th. The shares were sold at an average price of $39.05, for a total value of $39,050.00. Following the completion of the sale, the insider now directly owns 182,937 shares of the company’s stock, valued at $7,143,689.85. The disclosure for this sale can be found here. Insiders sold 9,030 shares of company stock valued at $353,211 over the last ninety days. Insiders own 11.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers purchased a new position in MutualFirst Financial in the second quarter valued at $224,000. Bank of New York Mellon Corp boosted its holdings in MutualFirst Financial by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 26,997 shares of the bank’s stock valued at $964,000 after purchasing an additional 1,240 shares during the period. Teachers Advisors LLC boosted its holdings in MutualFirst Financial by 17.1% in the second quarter. Teachers Advisors LLC now owns 10,016 shares of the bank’s stock valued at $358,000 after purchasing an additional 1,465 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in MutualFirst Financial by 7.4% in the second quarter. TIAA CREF Investment Management LLC now owns 16,028 shares of the bank’s stock valued at $572,000 after purchasing an additional 1,107 shares during the period. Finally, Nationwide Fund Advisors boosted its holdings in MutualFirst Financial by 9.7% in the second quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock valued at $120,000 after purchasing an additional 298 shares during the period. 47.58% of the stock is owned by institutional investors and hedge funds.
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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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