Wall Street analysts predict that MutualFirst Financial Inc. (NASDAQ:MFSF) will report $17.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MutualFirst Financial’s earnings, with the highest sales estimate coming in at $17.30 million and the lowest estimate coming in at $16.70 million. MutualFirst Financial reported sales of $16.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that MutualFirst Financial will report full-year sales of $17.00 million for the current fiscal year, with estimates ranging from $65.80 million to $68.30 million. For the next year, analysts forecast that the company will report sales of $69.25 million per share, with estimates ranging from $68.00 million to $70.50 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for MutualFirst Financial.
MutualFirst Financial (NASDAQ:MFSF) last issued its earnings results on Tuesday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The business had revenue of $16.76 million for 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%.
MFSF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 price objective on shares of MutualFirst Financial in a research report on Friday, July 14th. DA Davidson upgraded shares of MutualFirst Financial from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $29.00 to $34.00 in a research report on Wednesday, July 26th. BidaskClub cut shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of MutualFirst Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Saturday, July 29th. Finally, TheStreet cut shares of MutualFirst Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.33.
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In related news, insider David Wayne Heeter sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $34.50, for a total value of $34,500.00. Following the completion of the transaction, the insider now directly owns 44,753 shares of the company’s stock, valued at approximately $1,543,978.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick C. Botts sold 942 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $34.75, for a total transaction of $32,734.50. Following the completion of the transaction, the chief operating officer now directly owns 23,261 shares of the company’s stock, valued at $808,319.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,161 shares of company stock valued at $1,299,609. Company insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its stake in MutualFirst Financial by 7.5% in the 1st quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock worth $106,000 after purchasing an additional 235 shares during the period. Nationwide Fund Advisors boosted its stake in MutualFirst Financial by 9.7% in the 2nd quarter. Nationwide Fund Advisors now owns 3,371 shares of the bank’s stock worth $120,000 after purchasing an additional 298 shares during the period. Wells Fargo & Company MN boosted its stake in MutualFirst Financial by 16.7% in the 1st quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after purchasing an additional 500 shares during the period. SG Americas Securities LLC boosted its stake in MutualFirst Financial by 10.7% in the 2nd quarter. SG Americas Securities LLC now owns 5,992 shares of the bank’s stock worth $214,000 after purchasing an additional 578 shares during the period. Finally, Geode Capital Management LLC boosted its stake in MutualFirst Financial by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock worth $1,526,000 after purchasing an additional 1,062 shares during the period. 46.12% of the stock is owned by hedge funds and other institutional investors.
Shares of MutualFirst Financial (MFSF) traded down 0.79% during mid-day trading on Friday, hitting $37.75. The stock had a trading volume of 6,588 shares. The stock has a market capitalization of $278.63 million, a price-to-earnings ratio of 20.41 and a beta of 0.35. The stock’s 50-day moving average price is $35.05 and its 200-day moving average price is $33.71. MutualFirst Financial has a 12-month low of $26.30 and a 12-month high of $38.45.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, September 7th. MutualFirst Financial’s dividend payout ratio is currently 34.59%.
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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