Zacks: Brokerages Anticipate MutualFirst Financial Inc. (MFSF) Will Announce Quarterly Sales of $17.20 Million

Analysts expect MutualFirst Financial Inc. (NASDAQ:MFSF) to report sales of $17.20 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for MutualFirst Financial’s earnings, with the highest sales estimate coming in at $17.70 million and the lowest estimate coming in at $16.70 million. MutualFirst Financial reported sales of $16.04 million in the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The firm is expected to issue its next earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that MutualFirst Financial will report full year sales of $17.20 million for the current fiscal year, with estimates ranging from $65.50 million to $68.20 million. For the next year, analysts anticipate that the firm will report sales of $86.35 million per share, with estimates ranging from $84.30 million to $88.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover MutualFirst Financial.

MutualFirst Financial (NASDAQ:MFSF) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $16.70 million during the quarter, compared to the consensus estimate of $17.00 million. MutualFirst Financial had a return on equity of 9.73% and a net margin of 18.68%.

Several research analysts have commented on MFSF shares. Zacks Investment Research downgraded MutualFirst Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 target price on shares of MutualFirst Financial in a research note on Sunday, October 8th. ValuEngine downgraded MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, BidaskClub downgraded MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.67.

In other MutualFirst Financial news, insider Charles J. Viater sold 1,039 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $38.57, for a total transaction of $40,074.23. Following the completion of the transaction, the insider now owns 186,438 shares of the company’s stock, valued at $7,190,913.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles J. Viater sold 1,300 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $39.05, for a total value of $50,765.00. Following the transaction, the insider now directly owns 184,437 shares of the company’s stock, valued at approximately $7,202,264.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,315 shares of company stock valued at $603,775. Insiders own 11.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its stake in shares of MutualFirst Financial by 7.4% in the second 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 increased its stake in shares of MutualFirst Financial by 112.6% in the second 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. increased its stake in shares of MutualFirst Financial by 47.6% in the third 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. Macquarie Group Ltd. acquired a new position in shares of MutualFirst Financial in the third quarter valued at approximately $423,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of MutualFirst Financial by 2.7% in the second 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. 47.49% of the stock is owned by institutional investors.

MutualFirst Financial (NASDAQ:MFSF) traded down $0.15 during mid-day trading on Wednesday, reaching $37.45. The company had a trading volume of 2,800 shares, compared to its average volume of 4,433. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $279.32, a P/E ratio of 19.92, a PEG ratio of 3.48 and a beta of 0.33. MutualFirst Financial has a fifty-two week low of $29.20 and a fifty-two week high of $40.50.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.18 per share. This is an increase from MutualFirst Financial’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, December 7th. This represents a $0.72 annualized dividend and a yield of 1.92%. MutualFirst Financial’s payout ratio is presently 38.30%.

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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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