MutualFirst Financial (NASDAQ:MFSF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $43.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.25% from the company’s current price.

According to Zacks, “MutualFirst Financial, Inc. is the holding company of Mutual Federal Savings Bank. “

A number of other research analysts have also recently weighed in on the company. ValuEngine cut MutualFirst Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $36.00 price target on shares of MutualFirst Financial in a research report on Sunday, October 8th. Finally, BidaskClub cut MutualFirst Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $38.67.

Shares of MutualFirst Financial (MFSF) traded up $0.10 during mid-day trading on Wednesday, hitting $38.65. The stock had a trading volume of 8,100 shares, compared to its average volume of 9,453. MutualFirst Financial has a twelve month low of $29.20 and a twelve month high of $40.50. The stock has a market capitalization of $284.86, a PE ratio of 20.56, a P/E/G ratio of 3.97 and a beta of 0.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44.

MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. MutualFirst Financial had a return on equity of 9.73% and a net margin of 18.68%. The business had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $17.00 million. analysts forecast that MutualFirst Financial will post 1.94 EPS for the current year.

In related news, Director Jerry Dean Mcvicker sold 3,870 shares of MutualFirst Financial stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $39.25, for a total transaction of $151,897.50. Following the completion of the sale, the director now owns 36,550 shares in the company, valued at approximately $1,434,587.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles J. Viater sold 710 shares of MutualFirst Financial stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $39.95, for a total value of $28,364.50. Following the sale, the insider now owns 188,452 shares of the company’s stock, valued at approximately $7,528,657.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,315 shares of company stock valued at $603,775. 11.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC grew its holdings in MutualFirst Financial by 7.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 16,028 shares of the bank’s stock valued at $572,000 after buying an additional 1,107 shares during the period. New York State Common Retirement Fund grew its holdings in MutualFirst Financial by 112.6% in the 2nd quarter. New York State Common Retirement Fund now owns 8,495 shares of the bank’s stock valued at $303,000 after buying an additional 4,499 shares during the period. Hillsdale Investment Management Inc. grew its holdings in MutualFirst Financial by 47.6% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 21,700 shares of the bank’s stock valued at $834,000 after buying an additional 7,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in MutualFirst Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 398,647 shares of the bank’s stock valued at $14,232,000 after buying an additional 10,625 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in MutualFirst Financial in the 3rd quarter valued at about $423,000. Hedge funds and other institutional investors own 47.49% of the company’s stock.

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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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