First Merchants Corp Takes Position in MutualFirst Financial Inc. (MFSF)
First Merchants Corp acquired a new stake in MutualFirst Financial Inc. (NASDAQ:MFSF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,050 shares of the company’s stock, valued at approximately $1,095,000. First Merchants Corp owned about 0.54% of MutualFirst Financial at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. James Investment Research Inc. raised its stake in shares of MutualFirst Financial by 19.3% in the second quarter. James Investment Research Inc. now owns 23,125 shares of the company’s stock valued at $632,000 after buying an additional 3,740 shares during the last quarter. Pinnacle Holdings LLC raised its stake in shares of MutualFirst Financial by 6.4% in the first quarter. Pinnacle Holdings LLC now owns 33,928 shares of the company’s stock valued at $855,000 after buying an additional 2,050 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MutualFirst Financial by 3.5% in the first quarter. Geode Capital Management LLC now owns 34,717 shares of the company’s stock valued at $874,000 after buying an additional 1,182 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of MutualFirst Financial by 6.4% in the first quarter. Renaissance Technologies LLC now owns 116,800 shares of the company’s stock valued at $2,943,000 after buying an additional 7,000 shares during the last quarter. 46.50% of the stock is currently owned by institutional investors.
Shares of MutualFirst Financial Inc. (NASDAQ:MFSF) traded up 0.07% during mid-day trading on Wednesday, reaching $27.71. The company had a trading volume of 1,552 shares. MutualFirst Financial Inc. has a 12-month low of $21.20 and a 12-month high of $28.99. The firm’s 50 day moving average is $27.65 and its 200-day moving average is $26.88. The stock has a market capitalization of $202.95 million, a P/E ratio of 16.11 and a beta of 0.58.
MutualFirst Financial (NASDAQ:MFSF) last released its quarterly earnings data on Monday, July 25th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.18. MutualFirst Financial had a return on equity of 9.44% and a net margin of 18.35%. On average, analysts expect that MutualFirst Financial Inc. will post $1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.56 annualized dividend and a yield of 2.02%. MutualFirst Financial’s dividend payout ratio is 32.37%.
Several analysts have recently weighed in on MFSF shares. Zacks Investment Research raised MutualFirst Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Keefe, Bruyette & Woods lifted their price objective on MutualFirst Financial from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Finally, DA Davidson started coverage on MutualFirst Financial in a report on Thursday, July 21st. They set an “underperform” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.00.
In other MutualFirst Financial news, insider Charles J. Viater sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the sale, the insider now owns 176,662 shares in the company, valued at $4,911,203.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.70% of the stock is owned by company insiders.
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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