DA Davidson Initiates Coverage on MutualFirst Financial to Underperform

DA Davidson Initiates Coverage on MutualFirst Financial(NASDAQ:MFSF). The shares have been rated Underperform. The rating by DA Davidson was issued on Jul 21, 2016.

MutualFirst Financial (MFSF) made into the market gainers list on Wednesdays trading session with the shares advancing 0.95% or 0.27 points. Due to strong positive momentum, the stock ended at $28.8, which is also near the day’s high of $28.88. The stock began the session at $28.69 and the volume stood at 7,828 shares. The 52-week high of the shares is $28.97 and the 52 week low is $21.2033. The company has a current market capitalization of $215 M and it has 74,67,543 shares in outstanding.

MutualFirst Financial(MFSF) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $14.76M. Analysts had an estimated revenue of $14.90M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Apr 26, 2016, Jonathan E Kintner (director) sold 5,000 shares at $26.09 per share price.Also, On Jan 20, 2016, James David Rosema (director) sold 5,000 shares at $23.04 per share price.On Jan 15, 2016, William V Hughes (director) sold 1,963 shares at $21.55 per share price, according to the Form-4 filing with the securities and exchange commission.

MutualFirst Financial Inc. (MutualFirst) is the bank holding company of MutualBank (MutualBank or the Bank). MutualBank also has trust offices in Carmel and Crawfordsville Indiana and a loan origination office in New Buffalo Michigan. The Company has a subsidiary Summit Mortgage Inc. that operates a mortgage banking firm in Ft. Wayne Indiana. In addition the Company originates residential mortgage and commercial loans in the counties. MutualWealth and MutualFinancial Advisors are the wealth management and brokerage divisions of the Bank that provide a range of fee-based financial services including trust investment insurance broker advisory retirement plan and private banking services in its market areas. Trust services are provided to both individual and corporate customers including personal trust and agency accounts employee benefit plans and corporate bond trustee accounts.

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