BidaskClub cut shares of MutualFirst Financial Inc. (NASDAQ:MFSF) from a hold rating to a sell rating in a research report sent to investors on Sunday.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of MutualFirst Financial from a hold rating to a buy rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of MutualFirst Financial from a hold rating to a buy rating and set a $37.00 price target for the company in a research report on Friday, April 28th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $32.00 price target on shares of MutualFirst Financial in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. MutualFirst Financial currently has an average rating of Hold and a consensus price target of $31.00.

Shares of MutualFirst Financial (NASDAQ MFSF) traded up 0.59% during trading on Friday, reaching $34.05. 2,943 shares of the company were exchanged. The stock has a market capitalization of $250.06 million, a PE ratio of 18.09 and a beta of 0.36. MutualFirst Financial has a one year low of $25.97 and a one year high of $36.90. The stock has a 50-day moving average price of $34.43 and a 200-day moving average price of $32.50.

MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings data on Tuesday, April 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. MutualFirst Financial had a net margin of 18.92% and a return on equity of 9.93%. The company had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $15.70 million. Analysts forecast that MutualFirst Financial will post $1.80 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.64 annualized dividend and a yield of 1.88%. MutualFirst Financial’s payout ratio is currently 34.04%.

In other MutualFirst Financial news, insider David Wayne Heeter sold 2,433 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $35.08, for a total transaction of $85,349.64. Following the completion of the sale, the insider now owns 45,863 shares of the company’s stock, valued at approximately $1,608,874.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick C. Botts sold 942 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $34.75, for a total transaction of $32,734.50. Following the sale, the chief operating officer now directly owns 23,261 shares of the company’s stock, valued at approximately $808,319.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,663 shares of company stock valued at $232,440 in the last three months. 11.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in MFSF. American International Group Inc. boosted its stake 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 during the last quarter. Wells Fargo & Company MN boosted its stake 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 during the last quarter. Bank of America Corp DE boosted its stake 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 during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of MutualFirst Financial during the fourth quarter valued at $148,000. Finally, SG Americas Securities LLC purchased a new stake in shares of MutualFirst Financial during the first quarter valued at $171,000. 46.10% of the stock is owned by institutional investors and hedge funds.

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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