Bank of New York Mellon Corp increased its position in shares of MutualFirst Financial Inc. (NASDAQ:MFSF) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,997 shares of the bank’s stock after purchasing an additional 1,240 shares during the period. Bank of New York Mellon Corp owned approximately 0.37% of MutualFirst Financial worth $964,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in MutualFirst Financial by 16.7% during the first quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock worth $110,000 after purchasing an additional 500 shares in the last quarter. American International Group Inc. raised its holdings in MutualFirst Financial by 7.5% during the first quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock worth $106,000 after purchasing an additional 235 shares in the last quarter. Vanguard Group Inc. raised its holdings in MutualFirst Financial by 1.4% during the first quarter. Vanguard Group Inc. now owns 191,842 shares of the bank’s stock worth $6,053,000 after purchasing an additional 2,715 shares in the last quarter. Renaissance Technologies LLC raised its holdings in MutualFirst Financial by 6.6% during the first quarter. Renaissance Technologies LLC now owns 166,481 shares of the bank’s stock worth $5,252,000 after purchasing an additional 10,301 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in MutualFirst Financial during the first quarter worth about $171,000. 46.13% of the stock is owned by hedge funds and other institutional investors.
In other MutualFirst Financial news, COO Patrick C. Botts sold 2,880 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.03, for a total transaction of $100,886.40. Following the sale, the chief operating officer now directly owns 25,199 shares in the company, valued at approximately $882,720.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Wayne Heeter sold 7,285 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $34.57, for a total transaction of $251,842.45. Following the sale, the insider now owns 50,715 shares in the company, valued at $1,753,217.55. The disclosure for this sale can be found here. Insiders have sold a total of 29,268 shares of company stock worth $1,024,685 over the last 90 days. 11.30% of the stock is owned by insiders.
MutualFirst Financial Inc. (NASDAQ:MFSF) opened at 39.85 on Wednesday. The firm has a 50-day moving average of $38.08 and a 200-day moving average of $35.11. MutualFirst Financial Inc. has a one year low of $26.30 and a one year high of $40.45. The stock has a market capitalization of $294.13 million, a PE ratio of 21.54 and a beta of 0.36.
MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. The company had revenue of $16.76 million for the quarter, compared to the consensus estimate of $16.40 million. On average, equities research analysts forecast that MutualFirst Financial Inc. will post $1.93 earnings per share for the current year.
MFSF has been the subject of several analyst reports. DA Davidson raised shares of MutualFirst Financial from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $34.00 in a report on Wednesday, July 26th. ValuEngine cut shares of MutualFirst Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $32.00 target price on shares of MutualFirst Financial in a report on Friday, July 14th. Zacks Investment Research cut shares of MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Finally, BidaskClub cut shares of MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.67.
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MutualFirst Financial Profile
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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