Ancora Advisors, LLC
recently stated that they own 6.2% of MutualFirst Financial Inc. (NASDAQ:MFSF) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, August 9th. The investor owns 455,264 shares of the stock worth about $15,547,266. The reporting parties listed on the disclosure included Ancora Advisors, LLC and Frederick DiSanto. The filing is available through Edgar at this link.
Ancora Advisors, LLC
provided the following explanation of their ownership:
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Several other large investors have also added to or reduced their stakes in MFSF. American International Group Inc. increased its position in 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 period. Wells Fargo & Company MN increased 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 period. SG Americas Securities LLC increased its stake in shares of MutualFirst Financial by 10.7% in the second quarter. SG Americas Securities LLC now owns 5,992 shares of the bank’s stock valued at $214,000 after buying an additional 578 shares during the period. Geode Capital Management LLC increased its stake in shares of MutualFirst Financial by 2.2% in the first quarter. Geode Capital Management LLC now owns 48,370 shares of the bank’s stock valued at $1,526,000 after buying an additional 1,062 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of MutualFirst Financial by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 25,757 shares of the bank’s stock valued at $813,000 after buying an additional 1,091 shares during the period. 45.79% of the stock is currently owned by institutional investors.
Shares of MutualFirst Financial Inc. (NASDAQ:MFSF) traded down 1.16% during midday trading on Friday, hitting $34.15. The company had a trading volume of 15,456 shares. MutualFirst Financial Inc. has a 12 month low of $26.30 and a 12 month high of $36.90. The company has a 50-day moving average of $34.46 and a 200-day moving average of $33.16. The company has a market capitalization of $252.06 million, a PE ratio of 18.46 and a beta of 0.35.
MutualFirst Financial (NASDAQ:MFSF) last issued its earnings results on Tuesday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $16.76 million for the quarter, compared to analyst estimates of $16.40 million. MutualFirst Financial had a net margin of 18.53% and a return on equity of 9.66%. Analysts predict that MutualFirst Financial Inc. will post $1.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.87%. MutualFirst Financial’s dividend payout ratio (DPR) is presently 34.59%.
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Several analysts recently issued reports on the company. Zacks Investment Research downgraded MutualFirst Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. ValuEngine upgraded MutualFirst Financial from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. TheStreet cut MutualFirst Financial from a “b-” rating to a “c+” rating in a report on Tuesday, July 25th. BidaskClub cut MutualFirst Financial from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $32.00 target price on shares of MutualFirst Financial in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. MutualFirst Financial has a consensus rating of “Hold” and an average target price of $35.33.
In related news, COO Patrick C. Botts sold 942 shares of the stock in a transaction dated 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 owns 23,261 shares in the company, valued at $808,319.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick C. Botts sold 965 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.37, for a total transaction of $34,132.05. Following the completion of the transaction, the chief operating officer now owns 23,284 shares of the company’s stock, valued at approximately $823,555.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,161 shares of company stock worth $1,299,609. Company insiders own 11.30% 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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