Bank of America Corp DE boosted its holdings in MutualFirst Financial, Inc. (NASDAQ:MFSF) by 80.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,945 shares of the bank’s stock after purchasing an additional 1,761 shares during the quarter. Bank of America Corp DE’s holdings in MutualFirst Financial were worth $106,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC acquired a new position in shares of MutualFirst Financial during the 4th quarter worth $47,000. Rhumbline Advisers lifted its holdings in shares of MutualFirst Financial by 44.5% during the 4th quarter. Rhumbline Advisers now owns 7,998 shares of the bank’s stock worth $213,000 after acquiring an additional 2,463 shares during the period. Geode Capital Management LLC raised its holdings in MutualFirst Financial by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 61,886 shares of the bank’s stock valued at $1,644,000 after buying an additional 2,727 shares during the period. BlackRock Inc. lifted its stake in MutualFirst Financial by 2.8% in the fourth quarter. BlackRock Inc. now owns 311,356 shares of the bank’s stock valued at $8,273,000 after buying an additional 8,581 shares during the period. Finally, Vanguard Group Inc. lifted its stake in MutualFirst Financial by 2.2% in the third quarter. Vanguard Group Inc. now owns 273,684 shares of the bank’s stock valued at $10,085,000 after buying an additional 5,771 shares during the period. Hedge funds and other institutional investors own 47.54% of the company’s stock.
MutualFirst Financial stock traded down $0.17 during mid-day trading on Wednesday, reaching $31.23. 7,588 shares of the company were exchanged, compared to its average volume of 9,212. The firm’s fifty day simple moving average is $30.60. MutualFirst Financial, Inc. has a 12 month low of $24.28 and a 12 month high of $38.90. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The company has a market cap of $270.50 million, a price-to-earnings ratio of 12.85, a PEG ratio of 2.45 and a beta of 0.64.
MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $21.13 million for the quarter, compared to the consensus estimate of $20.75 million. MutualFirst Financial had a return on equity of 10.72% and a net margin of 19.24%. As a group, research analysts expect that MutualFirst Financial, Inc. will post 2.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, June 13th. MutualFirst Financial’s dividend payout ratio is presently 32.92%.
In related news, Director Mark L. Barkley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $31.11, for a total value of $155,550.00. Following the transaction, the director now owns 197,745 shares in the company, valued at $6,151,846.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Marien sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $30.90, for a total value of $117,420.00. Following the completion of the transaction, the director now owns 51,750 shares in the company, valued at approximately $1,599,075. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,125 shares of company stock valued at $283,126. 27.40% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on MFSF. Zacks Investment Research raised MutualFirst Financial from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. BidaskClub cut MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.00.
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.
Further Reading: Why do corrections happen?
Receive News & Ratings for MutualFirst Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MutualFirst Financial and related companies with MarketBeat.com's FREE daily email newsletter.