FIG Partners Analysts Cut Earnings Estimates for MutualFirst Financial Inc. (MFSF)

MutualFirst Financial Inc. (NASDAQ:MFSF) – Stock analysts at FIG Partners reduced their Q2 2018 earnings estimates for MutualFirst Financial in a research note issued on Tuesday, May 15th. FIG Partners analyst B. Martin now forecasts that the bank will earn $0.57 per share for the quarter, down from their previous estimate of $0.59. FIG Partners also issued estimates for MutualFirst Financial’s FY2018 earnings at $2.42 EPS and Q2 2019 earnings at $0.65 EPS.

MutualFirst Financial (NASDAQ:MFSF) last issued its earnings results on Friday, April 27th. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. MutualFirst Financial had a return on equity of 9.79% and a net margin of 16.42%. The firm had revenue of $18.02 million for the quarter, compared to the consensus estimate of $19.45 million.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded MutualFirst Financial from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded MutualFirst Financial from a “hold” rating to a “sell” rating in a research note on Saturday, March 10th. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $38.67.

Shares of MFSF opened at $37.45 on Friday. MutualFirst Financial has a 52 week low of $35.75 and a 52 week high of $36.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $313.84 million, a PE ratio of 17.85, a P/E/G ratio of 3.11 and a beta of 0.19.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MFSF. Wells Fargo & Company MN raised its holdings in MutualFirst Financial by 170.8% in the 3rd quarter. Wells Fargo & Company MN now owns 9,455 shares of the bank’s stock worth $363,000 after purchasing an additional 5,964 shares during the period. Dimensional Fund Advisors LP raised its holdings in MutualFirst Financial by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 417,640 shares of the bank’s stock worth $16,058,000 after purchasing an additional 18,993 shares during the period. Creative Planning acquired a new position in MutualFirst Financial in the 4th quarter worth about $231,000. Schwab Charles Investment Management Inc. raised its holdings in MutualFirst Financial by 23.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 12,500 shares of the bank’s stock worth $482,000 after purchasing an additional 2,400 shares during the period. Finally, Bessemer Group Inc. raised its holdings in MutualFirst Financial by 34.9% in the 4th quarter. Bessemer Group Inc. now owns 8,500 shares of the bank’s stock worth $328,000 after purchasing an additional 2,200 shares during the period. 42.54% of the stock is owned by institutional investors.

In related news, insider Charles J. Viater sold 775 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $37.89, for a total value of $29,364.75. Following the completion of the transaction, the insider now owns 177,745 shares of the company’s stock, valued at approximately $6,734,758.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Marien sold 2,964 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $36.51, for a total value of $108,215.64. Following the completion of the transaction, the director now directly owns 55,759 shares of the company’s stock, valued at approximately $2,035,761.09. The disclosure for this sale can be found here. Insiders sold 13,109 shares of company stock worth $482,816 in the last 90 days. Company insiders own 11.30% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.92%. MutualFirst Financial’s payout ratio is 37.70%.

MutualFirst Financial Company Profile

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.

Earnings History and Estimates for MutualFirst Financial (NASDAQ:MFSF)

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