DA Davidson upgraded shares of MutualFirst Financial Inc. (NASDAQ:MFSF) from an underperform rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have $34.00 target price on the bank’s stock, up from their prior target price of $29.00. DA Davidson also issued estimates for MutualFirst Financial’s Q3 2017 earnings at $0.50 EPS, Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $1.98 EPS and FY2018 earnings at $2.09 EPS.

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of MutualFirst Financial from a hold rating to a sell rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reissued a hold rating and set a $32.00 price target on shares of MutualFirst Financial in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of MutualFirst Financial from a buy rating to a hold rating in a research note on Wednesday, June 28th. Finally, ValuEngine raised shares of MutualFirst Financial from a hold rating to a buy rating in a research note on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $35.33.

Shares of MutualFirst Financial (MFSF) opened at 34.80 on Wednesday. The firm’s 50-day moving average is $34.70 and its 200-day moving average is $32.68. The company has a market capitalization of $255.57 million, a price-to-earnings ratio of 18.81 and a beta of 0.36. MutualFirst Financial has a 12-month low of $26.30 and a 12-month high of $36.90.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $16.76 million for the quarter, compared to the consensus estimate of $16.40 million. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.74%. On average, equities analysts predict that MutualFirst Financial will post $1.94 EPS for the current year.

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In other news, COO Patrick C. Botts sold 965 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.37, for a total value of $34,132.05. Following the transaction, the chief operating officer now owns 23,284 shares in the company, valued at $823,555.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Wayne Heeter sold 1,230 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $34.54, for a total transaction of $42,484.20. Following the completion of the transaction, the insider now owns 44,660 shares in the company, valued at approximately $1,542,556.40. The disclosure for this sale can be found here. Insiders have sold 7,893 shares of company stock worth $274,925 over the last three months. Insiders own 11.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. boosted its position in shares of MutualFirst Financial by 7.5% in the first quarter. American International Group Inc. now owns 3,363 shares of the bank’s stock valued at $106,000 after buying an additional 235 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of MutualFirst Financial by 16.7% in the first quarter. Wells Fargo & Company MN now owns 3,490 shares of the bank’s stock valued at $110,000 after buying an additional 500 shares in the last quarter. Bank of America Corp DE boosted its position in shares of MutualFirst Financial by 424.4% in the first quarter. Bank of America Corp DE now owns 3,933 shares of the bank’s stock valued at $124,000 after buying an additional 3,183 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of MutualFirst Financial during the fourth quarter valued at about $148,000. Finally, SG Americas Securities LLC purchased a new position in shares of MutualFirst Financial during the first quarter valued at about $171,000. Hedge funds and other institutional investors own 45.95% of the company’s stock.

MutualFirst Financial Company 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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