MutualFirst Financial, Inc. (NASDAQ:MFSF) Sees Large Increase in Short Interest

MutualFirst Financial, Inc. (NASDAQ:MFSF) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 46,600 shares, an increase of 49.4% from the May 30th total of 31,200 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,900 shares, the short-interest ratio is currently 5.2 days.

MFSF has been the topic of several research analyst reports. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. BidaskClub cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

In other news, Director Mark L. Barkley sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $31.11, for a total transaction of $155,550.00. Following the sale, the director now directly owns 197,745 shares of the company’s stock, valued at $6,151,846.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Marien sold 3,800 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $30.90, for a total transaction of $117,420.00. Following the sale, the director now directly owns 51,750 shares in the company, valued at $1,599,075. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,125 shares of company stock valued at $283,126. Company insiders own 27.40% of the company’s stock.



A number of hedge funds have recently made changes to their positions in MFSF. BNP Paribas Arbitrage SA boosted its stake in MutualFirst Financial by 510.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,221 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,021 shares during the last quarter. Bank of America Corp DE boosted its stake in MutualFirst Financial by 80.6% in the fourth quarter. Bank of America Corp DE now owns 3,945 shares of the bank’s stock valued at $106,000 after acquiring an additional 1,761 shares during the last quarter. SG Americas Securities LLC bought a new position in MutualFirst Financial in the first quarter valued at approximately $142,000. Kessler Investment Group LLC boosted its stake in MutualFirst Financial by 23.8% in the first quarter. Kessler Investment Group LLC now owns 4,799 shares of the bank’s stock valued at $144,000 after acquiring an additional 924 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in MutualFirst Financial by 44.5% in the fourth quarter. Rhumbline Advisers now owns 7,998 shares of the bank’s stock valued at $213,000 after acquiring an additional 2,463 shares during the last quarter. 47.54% of the stock is currently owned by hedge funds and other institutional investors.

MFSF stock traded down $0.07 during midday trading on Friday, reaching $32.00. The company’s stock had a trading volume of 6,495 shares, compared to its average volume of 8,927. MutualFirst Financial has a 52 week low of $24.28 and a 52 week high of $38.90. The stock has a market capitalization of $276.36 million, a PE ratio of 13.17, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day moving average price is $31.34.

MutualFirst Financial (NASDAQ:MFSF) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. MutualFirst Financial had a net margin of 19.24% and a return on equity of 10.72%. The firm had revenue of $21.13 million for the quarter, compared to analysts’ expectations of $20.75 million. Analysts predict that MutualFirst Financial will post 2.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.20 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.50%. MutualFirst Financial’s payout ratio is presently 32.92%.

About MutualFirst Financial

MutualFirst Financial, Inc operates as the bank holding company for MutualBank that provides various financial services in the United States. It accepts savings deposit, NOW, and demand accounts, as well as certificates of deposit. The company offers one-to-four family residential property, commercial real estate, construction and development, and commercial business loans; consumer loans, such as auto loans, boat and recreational vehicle loans, loans secured by savings deposits, and credit card and unsecured consumer loans; and adjustable rate loans.

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